Due to the sharp drop in cryptocurrency prices during Friday's trading session, Dogcoin fell to its lowest level since September. Overall, the global cryptocurrency market value fell by nearly 17% today, which seems to have been triggered by yesterday's Silvergate bank liquidation
Due to the sharp drop in cryptocurrency prices during Friday's trading session, Dogcoin fell to its lowest level since September. Overall, the global cryptocurrency market value fell by nearly 17% today, which seems to have been triggered by yesterday's Silvergate bank liquidation. Litecoin was another notable driver, falling more than XNUMX%.
Dog
Dogcoin fell to a five month low on Friday as cryptocurrency prices continued to plummet after the liquidation of Silvergate Bank.
DOGE/USD fell to an intraday low of $0.06302 earlier in the day, less than 0.0722 hours from its high of $24.
Due to the decline, Gougou Coin fell to its lowest point since June 0.0627, when the price hit a bottom of $XNUMX.
DOGE/USD - Daily chart
From the chart, the selling occurred when the 14 day Relative strength index (RSI) fell below the long-term bottom of 30.00
As of the writing of this article, the index is tracking at 21.52, which is in a very bearish region and the lowest reading since December XNUMX.
The recent price decline may tempt long-term bulls to buy into the current low point, but it may not immediately rebound.
17%
After reaching a high of $84.76 on Thursday, the LTC/USD fell to a low of $69.14 earlier on Friday.
This sharp drop made the Litecoin fall to the lowest level since New Year's Eve, when the token fell to the bottom of $67.57.
LTC/USD - Daily chart
Overall, LTC has fallen for the fifth consecutive trading day, with a decline of nearly 23% in the past week.
Like dog coins, the sharp drop in price has caused the 14 day RSI to drop to an eight month low, currently tracking at 23.75.
If the current mood continues into the weekend, the lower limit of $63.00 may be the seller's goal.
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