LTC Back Under $90.00, as SOL Extends Declines

Litecoin fell below the $90.00 level on Monday, as sentiment in cryptocurrency markets remained mostly bearish. The global market cap is down 1.87% at the time of writing, which seems to be a result of the upcoming Federal Reserve interest rate decision. Solana was also in the red today.

Litecoin (LTC)

Litecoin (LTC) was down for a second straight session on Monday, as markets prepared for the upcoming United States Federal Reserve policy decision.

LTC/USD dropped to low at $86.83 earlier in today’s session, which comes 24 hours after trading at a high of $91.39.

Today’s drop in price has pushed litecoin to its weakest point since last Wednesday, when the token was at a low of $84.21.

Looking at the chart, Monday’s move came as the relative strength index (RSI) fell to a support level at 44.00.

At the time of writing, the index is tracking at 44.80, with an upcoming ceiling of 50.00 a potential target for bulls.

Should this point be hit, there is a strong possibility that LTC will move back above the $90.00 mark.

Solana (SOL)

In addition to litecoin, solana (SOL) was another notable mover on Monday, as the token fell for a third consecutive day.

Following a high of $23.93 on Sunday, SOL/USD slipped to a bottom of $22.05 earlier in the day.

This bearish spell started after bulls were unable to force a breakout beyond a ceiling at the $24.00 mark.

One of the catalysts for this was the RSI, which also failed to surge past a key resistance level at 55.00

As of writing, price strength is tracking at 48.58, with the next visible floor at the 45.00 zone.

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Will solana fall below $20.00 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.