LTC Plunges Below $90.00 as SOL Continues Slide – Crypto Market Update


Litecoin (LTC) Falling Below $90.00 Threshold on Monday

The sentiment in the cryptocurrency markets remains largely bearish, as the global market cap was down by 1.87% as of this writing. This appears to be due to the upcoming United States Federal Reserve interest rate decision and the elections.

Litecoin (LTC) declined for the second consecutive session on Monday, with the token dropping to a low of $86.83. This comes 24 hours after trading at a high of $91.39. This puts LTC at its weakest point since last Wednesday, when it reached a low of $84.21.

According to the daily chart, the Relative Strength Index (RSI) fell to a support level of 44.00. The index was at 44.80 when this article was written, with a potential ceiling of 50.00 as a target for bulls.

Should the point be hit, LTC may move back up above the $90.00 mark.

Solana (SOL) Also Notable Mover in Market

In addition to litecoin, solana (SOL) was also a notable mover in the cryptocurrency market on Monday. The token fell for the third consecutive session, after reaching highs of $23.93 on Sunday. SOL/USD then dropped to a day-low of $22.05 at the start of the trading session.

This bearish spell began after bulls failed to break through a ceiling of $24.00. One of the factors that contributed to this was the RSI, which failed to pass a crucial resistance level at 55.00.

As of this writing, the price strength is tracking at 48.58 with the next visible bottom at the 45.00 area.

Will Solana drop below $20.00 this week? Let us know what you think in the comments.

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