Litecoin was a notable mover on Wednesday, as the cryptoย token dropped by as much as 6 percent in todayโs session. The decline came as a red wave swept through the cryptocurrency market, leading to the worldwide cap sliding by 2 percent at the time of writing. Dogecoinย (DOGE) likewise dropped, hitting a two-week low.
Litecoin (LTC)
Litecoin (LTC) was one of Wednesdayโs largest movers, as the cryptoย token dropped by as much as 6 percent in todayโs session.
LTC/USD dropped to a bottom of $85.87 earlier in the day, less than 24 hours after hitting a high of $91.79.
The decline in price pushed litecoin to its lowestย level since May 15, when it last broke out of a floor at $85.00.
From the chart, it appears that todayโs move transpired as the relative strength index (RSI) dropped below a levelย ofย support of 50.00.
Asย ofย now, price strength is now tracking at 46.95, with theย following visible floor at the 39.00 mark.
Despiteย theย factย that LTC has rebounded from an earlier low, and is now currentlyย worth $86.61, a breakout below $85.00 remains possible.
Dogecoinย (DOGE) (DOGE)
Dogecoinย (DOGE) was likewise in the red on Wednesday, as it dropped to a multi-week low of its own.
Following a high of $0.07305 on Tuesday, DOGE/USD slipped to a low of $0.07103 in todayโs session.
This fall in price pushed the memeย cryptocurrency to its lowest point since May 12, which is the last time it traded under $0.07000.
Inย general, Dogecoinย (DOGE) has mostly consolidated betwixt the aforementioned low, and a resistance level at $0.0750 duringย theย previous few weeks.
Toย beย ableย to move away from this current threshold, a ceiling of 43.00, or floor at 36.00 will must be broken.
Atย theย timeย ofย publication, the index is at a reading of 37.42.
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