{"id":99056,"date":"2023-05-24T17:31:58","date_gmt":"2023-05-24T17:31:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/05\/24\/litecoin-stalls-at-95-ahead-of-fomc-minutes-crypto-news\/"},"modified":"2023-05-24T17:32:00","modified_gmt":"2023-05-24T17:32:00","slug":"litecoin-stalls-at-95-ahead-of-fomc-minutes-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/litecoin-stalls-at-95-ahead-of-fomc-minutes-crypto-news\/","title":{"rendered":"Litecoin stalls at $95 ahead of FOMC minutes\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400;\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">LTC rallied over 20% between 12 May- 17 May.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The rally cooled off at $95 ahead of FOMC Minutes on 24 May\/BTC fluctuations.<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ltc\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Litecoin&#8217;s [LTC]<\/span><\/a><span style=\"font-weight: 400;\">  strong rally last week eased ahead of FOMC minutes and persistent <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/btc\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin [ BTC]<\/span><\/a><span style=\"font-weight: 400;\">  fluctuations.  The asset posted over 20% gains, rising from $77.7 to $95.1, and its <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/assessing-the-state-of-litecoin-ltc-as-it-continues-to-outperform-its-peers\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">correlation<\/span><\/a><span style=\"font-weight: 400;\">  to BTC dropped. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green?  Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/litecoin-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">LTC Profit Calculator<\/span><\/a><span style=\"font-weight: 400;\"> <\/span><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">Despite signs of declining correlation, LTC still succumbed to BTC&#8217;s whipsawing.  At press time, sellers depreciated the asset below $90 but could face some resistance.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from the FOMC minutes, a considerable number of BTC options are set to expire on May 26, per <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/metrics.deribit.com\/options\/BTC\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Deribit data<\/span><\/a><span style=\"font-weight: 400;\">,  As such, overall market volatility could increase this week. <\/span><\/p>\n<h4>Will sellers extend for more gains?<\/h4>\n<div id=\"attachment_315801\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-315801\" class=\"size-full wp-image-315801\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57.png\" alt=\"\" width=\"1950\" height=\"1109\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57.png 1950w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57-1024x582.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57-768x437.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTCUSDT_2023-05-24_08-18-57-1536x874.png 1536w\" sizes=\"auto, (max-width: 1950px) 100vw, 1950px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-315801\" class=\"wp-caption-text\">Source: LTC\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Sellers gained entry at the $95 price level, a sticky resistance level in late March and early April.  However, price action approached another key support level of $85, and bulls could have a chance if it doesn&#8217;t crack. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the Relative Strength Index (RSI) headed to the oversold zone while On Balance Volume (OBV) dropped significantly.  This highlighted that selling pressure increased while demand and volume for LTC declined. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As such, sellers could attempt to crack the $85 support, especially if BTC remains below $27k.  LTC could be devalued to the bullish order block and next support zone (cyan) near $74 if the support cracks. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, bulls could secure the $85 support and reverse recent losses.  However, they will only gain the upper hand if they push LTC above $95.  Crossing the $100 mark could be feasible if they successfully clear the hurdle. <\/span><\/p>\n<h4>Sellers to prevail?<\/h4>\n<div id=\"attachment_315804\" style=\"width: 1211px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-315804\" class=\"size-full wp-image-315804\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"LTC li\" width=\"1201\" height=\"601\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq.png 1201w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-300x150.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-1024x512.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-768x384.png 768w\" data-lazy-sizes=\"(max-width: 1201px) 100vw, 1201px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-315804\" class=\"size-full wp-image-315804\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq.png\" alt=\"LTC li\" width=\"1201\" height=\"601\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq.png 1201w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-300x150.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-1024x512.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/05\/LTC-liq-768x384.png 768w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-315804\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-ltc-to-usd\" data-wpel-link=\"internal\">1,10,100 <\/a><\/span><span style=\"font-weight: 400;\">LTC&#8217;s<\/span><span style=\"font-weight: 400;\">  worth today?<\/span><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">Coinglass&#8217;s liquidation data showed over $1.5 million worth of long positions liquidated in the past four hours alone.  Yet less than $3k short positions were wrecked.  The data paints a bearish short-term outlook for LTC&#8217;s futures market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A similar sentiment could intensify in the spot market and push sellers to extend gains beyond the $85 support level.  Traders should track BTC&#8217;s price movement and Friday&#8217;s BTC&#8217;s options expiry.  <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion. LTC rallied over 20% between 12 May- 17 May. The rally cooled off at $95 ahead of FOMC Minutes on 24 May\/BTC fluctuations. Litecoin&#8217;s [LTC] strong rally last week eased ahead of FOMC minutes [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":99057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-99056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/99056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=99056"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/99056\/revisions"}],"predecessor-version":[{"id":99058,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/99056\/revisions\/99058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/99057"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=99056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=99056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=99056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}