Solana (SOL) Price Plunges 8%, Rollblock Shines Among Top Crypto Gainers While Litecoin
Solana (SOL) Struggles Continue
Solana, known for its high-speed blockchain capabilities, has been in the throes of a bearish trend, with its price dropping by over 8% recently. The market sentiment around Solana has been impacted by overall market trends and specific challenges within Solana’s ecosystem.
Solana’s price fell below $135, marking a significant drop of more than 15% in a single trading day. This has placed Solana in an interesting position, with most market analysts predicting further declines. Technical indicators such as the Relative Strength Index and Moving Average Convergence Divergence suggest continued bearish momentum for Solana as well. Amidst Solana’s ongoing struggles, some analysts have started to look elsewhere for altcoins that have huge potential to surge in 2024.
Litecoin (LTC) Sees Increased Selling Pressure
Litecoin, one of the oldest and most established cryptocurrencies, is also facing a challenging period. Despite a 4.18% increase over the past week or so, Litecoin’s current price of $74.64 might be under threat of significant selling pressure.
Around 928,200 Litecoin, valued at nearly $70 million, are poised to be sold once it reaches $74.65. This potential sell-off could drive Litecoin’s price below $70, contributing to further bearish sentiment. Network activity has also decreased, with fewer active addresses making transactions, indicating reduced interest and usage of the Litecoin network in general.
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