Litecoin price has sank recently along with the greater crypto market, despite not being named a security by the US SEC.
The downward pressure has the altcoin at risk of forming a death cross on the daily timeframe. Although the signal sounds ominous and often indicates a downtrend is coming, it might not be lights out for LTC after all. Let’s take a look.
Lackluster Litecoin Performance Ahead of Halving Attributed to SEC
With Litecoin’s halving just weeks away, the currently eleventh-ranked cryptocurrency by market cap was expected to perform better than it has.
Fundamental and technical signals both point to LTC being undervalued, yet the coin has suffered alongside other altcoins from SEC-related sell pressure.
The US SEC is trying to kill the crypto industry, and its causing LTCUSD daily charts to inch closer to an ominous death cross.
Doing A Double-Take On The Daily LTCUSD Death Cross
A death cross occurs when the 50-day moving average crosses below the 200-day moving averag
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