Doge, LTC at the 3-Week Lows Thursday are the biggest Movers
Dogecoin was trading at a three-week low after the release of US retail sales figures. Last month, customer spending dropped by 0.6%, more than was expected. Litecoin fell for the second consecutive session, reaching its lowest point since November.
Dogecoin (DOGE), which was in the red on Thursday due to falling prices for the ninth of the eleven previous days, remained in the red.
DOGE’s recent decline saw it hit a low of $0.08694 in today’s session. This is almost 4% less than Wednesday’s peak of $0.09224.
This action saw the meme coin drop to its lowest point since Monday. It was close to $0.0848 for the three-week period.
The chart shows that bearish sentiment has increased since the 14-day relative strengths index (RSI), fell from its recent floor of 47.50 to show its decline.
The index is currently tracking at 42.40 with a floor of 40.00 as the next destination.
If this level of support is reached, DOGE trading will likely be near the $0.0840 mark.
Litecoin (LTC), another notable token that fell today, saw prices move lower for a second consecutive day.
LTC/USD fell to $74.07 after Wednesday’s high of $78.96.
This drop caused litecoin to fall to its lowest point since November 28th, when prices reached a low of $70.50.
As with dogecoin, today’s selloff coincided with the RSI reaching a low of 50.20. This is close to a floor level of 50.00.
Bulls who anticipate a reversal might be optimistic and may consider reentering at this point of support.
If this floor fails to hold, LTC will likely edge closer to $70.00.
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Could we see litecoin’s rebound in the next few days? We would love to hear your thoughts in the comment section.