The decline of Litecoin (LTC) and Polkadot (DOT) appears over? – FX chief

Advertisements

Litecoin and Polkadot cryptocurrencies have been pretty bearish for more than a month, losing more than 50% of their value in the process. The bearish sentiment in the crypto market has dragged all but a few cryptos down, but it seems like the turmoil has come to an end. The bearish period for cryptos could be over now and 2022 could start out pretty bullish, similar to early 2021. Polkadot and Litecoin remain weak but they are showing some bullish signs so let’s see what they look like now.

Litecoin Daily Chart Analysis – LTC Trying To Reverse Support?

Litecoin suddenly turned bullish in early November, climbing to nearly $ 300 after missing out on most of the October crypto rally. But the bearish reversal in the crypto market was unfortunate for Litecoin and dragged it down. LTC / USD fell to $ 130 during the crash earlier this month, but the real support zone is around $ 140, which was held in December.

LTC / USD

Sellers have made many attempts to get this support but it struggled when the crypto market consolidated after the decline and now it seems like the market is trying to get bullish with Bitcoin challenging $ 50,000. Litecoin is one of the oldest cryptocurrencies and enjoys the reputation of a trustworthy cryptocurrency, as there have been no failures so far.

As a result, the number of merchants accepting LTC payments is increasing worldwide and is the third most widely accepted cryptocurrency among merchants according to Cryptwerk. The Litecoin Visa debit card is bringing LTC further into the mainstream, with active addresses and also increasing activity. But it follows the mood of the crypto market. So if the market continues its bullish reversal, Litecoin will likely follow suit.

Polkadot Daily Chart Analysis – 5 Parachains already started

Let’s hope the 200 SMA doesn’t become a strong resistance

After launching the first five parachains, Polkadot began the blockchain’s path to becoming an interoperable ecosystem. The slot auctions started early last month and the top five auction winners were Acala, Moonbeam, Parallel Finance, Astar and Clover, with projects mainly focused on decentralized finance (DeFi), cross-chain interoperability, etc.

This has increased interest in polkadot, which rose to $ 55 in early November. But as mentioned earlier, the negative sentiment in the crypto market had a huge impact on DOT / USD, which fell to $ 23. We have seen an attempt to go bullish in the past two days, but it seems pretty weak and the 2o0 daily SMA (purple) offers resistance at the top so buyers must cross this moving average for the bullish trend to return is recorded again.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Polkadot value to dip earlier than DOT’s subsequent leg up – FXStreet Polkadot

Polkadot value to dip earlier than DOT’s subsequent leg up – FXStreet

Polkadot price has seen a reversal after retesting the weekly supply zone, extending from...

By wpadminsonic164
•
Alia Bhatt to Kareena Kapoor Khan: 5 divas who appeared like traditional bombshells in white and black sarees – PINKVILLA Polkadot

Alia Bhatt to Kareena Kapoor Khan: 5 divas who appeared like traditional bombshells in white and black sarees – PINKVILLA

Like it, obsess over it or hate it, the good old magic of monochrome...

By wpadminsonic164
•
Cryptocurrency Value Prediction: Polkadot, Bitcoin & Axie Infinity – Asian Wrap Dec 24 – FXStreet Polkadot

Cryptocurrency Value Prediction: Polkadot, Bitcoin & Axie Infinity – Asian Wrap Dec 24 – FXStreet

The Polkadot price could see an unprecedented spike in the next week and stretch...

By wpadminsonic164
•
AstridDAO Partners with Tech Giant Microsoft – GlobeNewswire Polkadot

AstridDAO Partners with Tech Giant Microsoft – GlobeNewswire

New York, May 25, 2022 (GLOBE NEWSWIRE) -- Exciting news from the Astar ecosystem....

By wpadminsonic164
•
Astar (ASTR) crypto firm joins Microsoft’s (MSFT) startup program – Kalkine Media Polkadot

Astar (ASTR) crypto firm joins Microsoft’s (MSFT) startup program – Kalkine Media

Astar (ASTR) crypto rose 36.90% to US$0.07707 at 2:22 pm ET on Tuesday after...

By wpadminsonic164
•
Second STATE Token Launch and Declare Occasion Announcement – Medium Polkadot

Second STATE Token Launch and Declare Occasion Announcement – Medium

ParaState is pleased to announce the release of our 2nd tranche of STATE tokens...

By wpadminsonic164
•
7 Bargain Cryptos to Buy After the Crash – InvestorPlace Polkadot

7 Bargain Cryptos to Buy After the Crash – InvestorPlace

While the pain in the cryptocurrency sector is tough to swallow, a bear market...

By wpadminsonic164
•
Jennifer Connelly Upgrades Polka Dot Shirt Dress With Block Heel Boots for ‘Good Morning America’ – Footwear News Polkadot

Jennifer Connelly Upgrades Polka Dot Shirt Dress With Block Heel Boots for ‘Good Morning America’ – Footwear News

If you purchase an independently reviewed product or service through a link on our...

By wpadminsonic164
•

Latest Posts

Cardano

Crypto Value Evaluation Jan-28: Ethereum, Ripple, Cardano, Solana, and Luna – CryptoPotato

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Luna,...

By wpadminsonic164
•
Binance has Nigerian Idol road release on Nigerian college grounds – Nairametrics Binance

Binance has Nigerian Idol road release on Nigerian college grounds – Nairametrics

Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, has activated the street...

By wpadminsonic164
•
Andreessen Horowitz Launches A16z Crypto Analysis Lab Bitcoin

Andreessen Horowitz Launches A16z Crypto Analysis Lab

A16z, also known as Andreessen Horowitz, the venture capital (VC) company that has invested...

By wpadminsonic164
•
Cryptocurrency Worth Prediction: Cardano, Terra & Bitcoin – American Wrap December twentieth – FXStreet Cardano

Cryptocurrency Worth Prediction: Cardano, Terra & Bitcoin – American Wrap December twentieth – FXStreet

Bitcoin price is moving sideways and is trapped between the crucial weekly moving averages....

By wpadminsonic164
•
OpenEthereum Ended Support For Its Software With Merge Approaching Ethereum

OpenEthereum Ended Support For Its Software With Merge Approaching

OpenEthereum ended support for its software with the Merge approach in order to prepare...

By wpadminsonic164
•
Cryptocurrencies Now Serving to Discover Area with Unistellar Telescopes – BlockTribune Stellar

Cryptocurrencies Now Serving to Discover Area with Unistellar Telescopes – BlockTribune

Cryptocurrencies Now Helping Explore Space with Unistellar Telescopes Announcements, News, Now Accepting | February...

By wpadminsonic164
•
Supervisor Cat Rocket Club Welcomed to Boss Planet Metaverse on Cardano By DailyCoin – Investing.com Cardano

Supervisor Cat Rocket Club Welcomed to Boss Planet Metaverse on Cardano By DailyCoin – Investing.com

Boss Cat Rocket Club Welcomed to Boss Planet Metaverse on Cardano 'Boss Cat Rocket...

By wpadminsonic164
•
BITCOIN Attenzione promotion APRILE! – CryptoMonday NEWS w13/'21 Videos

BITCOIN Attenzione promotion APRILE! – CryptoMonday NEWS w13/'21

CryptoMonday: ogni Lunedì, andiamo a fare il resoconto sulla settimana appena trascorsa in termini...

By wpadminsonic164
•