The LTC price dropped shortly after the halving event completed.
The recent drop in Litecoin prices may indicate a lack of interest among investors.
The Litecoin halving event in August was perhaps the most anticipated event of the year. Halving of Litecoin occurred on August 2, 2023, as planned after the last halving event on August 5, 2019. However, the price of LTC did not surge after the halving. Contrarily, the token’s value dropped shortly after the event completed.
The LTC price has been favoring the bears ever since. The recent drop in Litecoin prices may indicate a lack of interest among investors. In addition, the token, which is frequently compared to silver, has continued to be bearish since its peak in July.
Traders Await Catalyst
However, post prolonged decline, Litecoin bears seem to be taking a break. In addition to being at a support level that it tested in March, the price is in the oversold zone. The Relative Strength Index (RSI) is negative as it remains below the
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