Litecoin (LTC), Solana (SOL), And Stellar (XLM) Breaking Key Resistance Levels – How Long Will The Price Rise Last?

This Friday stands as a landmark moment in the cryptocurrency domain, with the crypto community’s eyes locked on a DC court’s forthcoming decision that could significantly influence the Bitcoin ETF landscape. The anticipation follows Grayscale Investments LLC’s groundbreaking stride against the SEC, potentially catalyzing its Bitcoin trust’s evolution into an ETF, a development that could ripple across the entire market, including assets like Litecoin (LTC), Solana (SOL), and Stellar (XLM).

Amidst this regulatory suspense, industry giants and investors are holding their breath, with the market’s recent sensitivity underscoring the high stakes at play, particularly evidenced by Bitcoin’s current trading status, which is a mere shadow of its former peak. As these events unfold, the emerging ScapesMania (MANIA) also finds itself in the line-up, poised to give early backers the high returns they imagined and even more.

Summary

• ScapesMania (MANIA), the new entrant, is carving a niche in the gaming sector, with a focus on security and sustainable growth.
• Litecoin (LTC) faces operational and financial challenges, marked by a lack of recent development activity and a significant drop in both token value and fee revenue, despite an increase in transactions.
• Solana (SOL) is at a crossroads following Lido Finance’s departure due to sustainability concerns, casting uncertainty over its market stability and future protocol adoption.
• Stellar (XLM) struggles with bearish market sentiment, as technical indicators point to continued downward pressure, although there’s potential for recovery if certain resistance levels are overcome.

ScapesMania: Presale Success

ScapesMania has rapidly become a synonym for originality in the relatively new cryptocurrency market. ScapesMania stands out from the crowd of underrated altcoins and well-established crypto titans because of its innovative revenue streams and meteoric rise in its presale.

Find Out More on the Official Site

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Backed by an award-winning team, ScapesMania is all about safety, having successfully passed audits by top-tier security labs. With a presence on key exchanges on the horizon, ScapesMania is poised for visibility and liquidity, which are going to fuel its growth.

What is a Presale?

The purpose of a crypto presale is to provide interested parties a chance to learn about and perhaps buy a new coin before it is officially released and listed on online trading platforms. Plus, it’s a great way to acquire tokens at a much lower price than they will be once the project goes live.

The current ScapesMania presale is gathering steam by the day, giving traders a small window of opportunity to leverage this token while it is still in its initial stages. Joining the presale enables you to save significantly as ScapesMania is expected to surge in value upon listing. Such offers don’t last long – as the clock is ticking, the opportunity to acquire discounted ScapesMania tokens is slipping away.

Is ScapesMania Going to Be the Hottest Altcoin of 2023 and Beyond?

Several factors point to ScapesMania being the most promising new cryptocurrency of 2023:

• Innovative Mechanisms: ScapesMania allows crypto-savvy people to benefit from the multi-billion gaming industry;
• Straightforward Tokenomics: The project’s tokenomics are cutting-edge and simple to understand since they avoid any ambiguity;
• Rising Presale Numbers: ScapesMania’s impressive presale statistics indicate that it is gaining significant traction in the crypto world.

Litecoin (LTC): Stability in Question

Litecoin (LTC) has reached a notable milestone, processing its 180 millionth transaction, with over 51 million transactions in 2023 alone, surpassing last year’s total of 39 million. However, the platform’s financial and operational health is under scrutiny, with no code commits in the last five months and a significant 45% decline in its token value since July, from $114 to around $63. This decline is a stark contrast to its all-time high of $413 over two years ago. Furthermore, despite an increase in transactions, Litecoin (LTC) fee revenue has plummeted by 68% since May 2021, from $186,000 to $6,000 in October this year.

Currently, Litecoin (LTC) price oscillates between $59.66 and $70.33. Key metrics provide a deeper insight into its financial landscape: the 10-day moving average stands at $61.73, while the 100-day moving average is pegged at $72.59. On the defensive front, support levels are identified at $42.69 and $53.35. Conversely, resistance thresholds are marked at $74.68 and $85.35.

The financial trajectory of Litecoin (LTC) is riddled with challenges. Despite processing a higher number of transactions compared to the previous year, its fee revenue tells a different story. In the bullish phase of May 2021, Litecoin’s fee revenue peaked at $186,000. Fast forward to October of the current year, and this figure has nosedived by a staggering 68%, settling at a mere $6,000, as per Token Terminal data. These fluctuations suggest shifts in transaction volumes and evolving user behaviors, especially as the bear market’s grip tightens, sidelining certain projects from investor focus.

Solana (SOL): Market Crossroads

Lido Finance, a decentralized liquid staking protocol, has decided to terminate its operations on the Solana (SOL) blockchain after a community vote within its decentralized autonomous organization (DAO). This move was proposed by Lido’s peer-to-peer (P2P) team on September 5, citing financial sustainability concerns and low fees on Solana (SOL). Following a voting period from September 29 to October 6, the decision was ratified by Lido token holders. As a result, Lido will halt new staking requests from October 16. Additionally, node operators will start their off-boarding process on November 17, and Lido users are advised to unstake their assets on Solana (SOL) by February 4.

Solana (SOL) price has been hovering between $18.55 and $22.99. The 10-day moving average stands slightly above the upper limit at $23.08, while the 100-day moving average is at $22.20. Support levels are marked at $11.28 and $15.73, with resistance levels at $24.62 and $29.06.

The recent decision by Lido Finance to cease operations on the Solana (SOL) blockchain has cast doubts over Solana (SOL) immediate future. This development could trigger short-term price fluctuations, and despite Solana (SOL) technical capabilities, its market position seems vulnerable. Current price metrics, while hinting at a possible bullish sentiment, are tempered by the nearing 100-day moving average, suggesting potential resistance. Solana (SOL) future largely hinges on its capacity to onboard new protocols and maintain financial stability, but the path ahead appears challenging, potentially affecting investor confidence.

Stellar (XLM): Behind the Descent

Stellar (XLM) has been on a downward trajectory, with its price consistently falling below a long-term descending resistance trendline since July 13. The situation worsened on October 9 when Stellar (XLM) broke down from the $0.110 horizontal support area and failed to reclaim it, leading to further price decline.

The daily time frame technical analysis reveals that Stellar (XLM) has been in a bearish pattern since reaching its yearly high of $0.197 on July 12. The combination of the descending trendline and the breakdown below the $0.110 area has formed a descending triangle, a bearish indicator. The price rejection on October 16 further solidified this downward trend. The daily Relative Strength Index (RSI) is below 50 and declining, confirming the bearish market sentiment.

Despite the bearish outlook, there is a glimmer of hope. The RSI reached oversold territory on October 15, and historically, this has led to a significant price increase. If Stellar (XLM) can break out from the trendline and reclaim the $0.110 resistance area, we could see a 30% increase to $0.140, similar to previous upward movements following an oversold RSI. However, if the current trend continues, Stellar (XLM) might see a 30% decrease to the $0.076 horizontal support area.

In conclusion

The cryptocurrency market is bracing for a potentially transformative period, with a pivotal decision on the Bitcoin ETF on the horizon. This landscape is not only crucial for Bitcoin but also instrumental in shaping the future of other digital assets like Litecoin (LTC), Solana (SOL), Stellar (XLM). Each of these cryptocurrencies faces its unique set of challenges and prospects. Litecoin (LTC) grapples with operational stagnation and a concerning dip in value, raising questions about its future viability. Solana (SOL) confronts uncertainty with the departure of Lido Finance, posing potential hurdles in maintaining its market position. Stellar (XLM) navigates through bearish trends, with its recovery reliant on overcoming key resistance levels.

Today, ScapesMania is arguably the strongest contender – other coins are failing to keep up with its future forecast. The promising newcomer can and most likely will secure 400-500% ROIs for the early backers and that’s more than any of the above-mentioned coins can offer.

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• Source: https://thecryptobasic.com/2023/10/20/litecoin-ltc-solana-sol-and-stellar-xlm-breaking-key-resistance-levels-how-long-will-the-price-rise-last/?utm_source=rss&utm_medium=rss&utm_campaign=litecoin-ltc-solana-sol-and-stellar-xlm-breaking-key-resistance-levels-how-long-will-the-price-rise-last