Litecoin

Bitcoin

<div class="coinjournal"> 
 <ul> 
 <li>Litecoin’s price halved in less than three months</li> 
 <li>Buying the dip is risky despite a small head and shoulders pattern forming</li> 
 <li>The dollar’s rally needs to stop for coins like Litecoin to reverse fortunes</li> 
 </ul> 
 
 The US dollar registered one of the biggest rallies ever during <a rel="noopener noreferrer nofollow" title="summer" href="https://thebittimes.com/tag/summer.html">summer</a>. For example, it gained against the EUR for eleven consecutive weeks – the first time ever!&nbsp; 
 It wasn’t only the EUR that the dollar strengthened against. In fact, it was a broad-based dollar strength, as it squeezed everything in its way higher.&nbsp; 
 That means cryptocurrencies, too.&nbsp; 
 Some of the cryptocurrencies fared better than others. For example, Bitcoin still holds close to its 2023 highs, moving in a horizontal consolidation for months.&nbsp; 
 However, some other coins did not perform so well. Litecoin (LTC/USD) is one of them, as its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="halved" href="https://thebittimes.com/tag/halved.html">halved</a> during the <a rel="noopener noreferrer nofollow" title="summer" href="https://thebittimes.com/tag/summer.html">summer</a> months. It was trading at $115 in July, only to drop to $60 in less than two months.&nbsp; 
 Such volatility is not unusual in the cryptocurrency space. But the speed of the decline (or the speed of the dollar’s strength) is so fast that it takes a lot of nerves and courage to buy such a dip.&nbsp; 
 <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/30/c37d534e4b0b6d829464126aebbd6bc9.webp" style="width: 100%" class="fr-fic fr-dib" width="1800" height="445"> 
 Litecoin chart by TradingView 
 <h2 id="ltc-usd-forms-a-small-inverse-head-and-shoulders-pattern">LTC/USD forms a small inverse head and shoulders pattern</h2> 
 A head and shoulders pattern signals a reversal. When it forms during a bearish trend, it signals a potential bullish reversal.&nbsp; 
 The head of the pattern pierced through the $60 level before bouncing. It is enough for the pattern to respect the rules, but is it enough to reverse such a powerful bearish trend seen during the <a rel="noopener noreferrer nofollow" title="summer" href="https://thebittimes.com/tag/summer.html">summer</a> months?&nbsp; 
 All in all, the main conclusion after nine months into the trading year is that Litecoin couldn’t hold above $100. If it doesn’t build energy to try again, the path of least resistance remains the downside.&nbsp; 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/litecoin-ltc-usd-price-halved-during-the-summer-what-next-tbt64652.html">https://thebittimes.com/litecoin-ltc-usd-price-halved-during-the-summer-what-next-tbt64652.html</a>

Litecoin (LTC/USD) price halved during the summer; what next?

Table of Contents

TheBitTimes

Other articles published on Sep 30, 2023

Top 5 Web 3 Projects That’ll Be Profitable Investments In 2024

BRICS: Bank of America Predicts Future of the US Economy

Chancellor Jeremy Hunt Proposes Innovative Approaches to Address Taxation Challenges

SBI establishes a joint cryptocurrency venture in Japan with TradeFinex from the UAE.

Pond0x DEX asserts a $100M trade volume, while others argue it’s a hoax.

Beware: Bing Chat’s Popularity Comes with Malware Risks

Join our free newsletter for daily crypto updates!