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The Litecoin price dropped 9% in the last 24 hours to trade at $81.73 as of 4.40 a.m. EST on trading volume that skyrocketed 47% to $574.23 million.
The LTC price dropped as the US Securities and Exchange Commission (SEC) delayed deciding on Canary Capital’s application to launch a Litecoin ETF. It now seeks additional comments on the proposal
This comes after the SEC also delayed other spot crypto ETF applications, including for XRP, Dogecoin, and Hedera.
Litecoin Price Prediction
The last 24 hours have brought a big price change for LTC. The coin’s value dropped from $89.26 at its peak yesterday to $81.28 at its lowest point today. Its price saw a minor recovery from there, going up to $81.92, but the recovery is slow, and it remains to be seen how far it can take the coin.
Its Bollinger bands saw a major widening as the price dropped and XRP value pushed the lower band further down, but they started to narrow once the coin found its bottom.
The coin’s Relative Strength Index (RSI) saw a sharp drop from the overbought zone to the oversold area after the SEC’s decision was made public. Many who were hoping to see the LTC price skyrocket started selling instead, causing the RSI to drop below 30. Some traders rushed in to buy the discounted coin, pumping the RSI to 60 briefly, only for another oversell to push the metric down to 21.82.
Since then, it has seen fluctuations between the neutral value of 50 and the oversold zone, showing that some traders are still willing to buy, but most are waiting for the recovery to start before they move back in.
Promising Alternative To Litecoin
While the LTC price is currently waiting for a recovery, the Best Wallet (BEST) presale has just surged past $12 million in funding.
Traders and investors love the wallet because it supports over 60 blockchains and thousands of cryptocurrencies that run on them. It also lets you connect your other wallets to it, and manage all of your funds from one place.
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On top of that, it features top-notch security and a native launchpad that flagged early to its wallet holders successful tokens that included Pepe Unchained, Catslap and Wall Street Pepe.
ClayBro, a crypto YouTuber with over 136k subscribers, says BEST is ”One Thing Every Crypto Holder Needs.”
BEST tokens are on sale for $0.024985 apiece. Interested investors should buy before a price hike in a little more than 1 day.
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