Litecoin’s ETF hype faces bearish signals, while Lunex Network’s DeFi protocol surges 425%, drawing investor interest

Litecoin's ETF hype is being threatened by bearish signals on the token's daily chart, making analysts shift their focus to utility altcoins.

Litecoin’s price action turned bearish on Monday despite speculations of the token’s upcoming exchange-traded fund (ETF). However, a new DeFi altcoin surged by 425% during its presale, outperforming both Litecoin and Solana (SOL).

Here’s a closer look at the latest crypto price movements and a promising new DeFi protocol that’s changing cross-chain trading.

Litecoin Price Bearish Despite ETF Approval Speculations

Litecoin’s price could soon be impacted by the SEC’s decision on Canary Capital’s application for a Litecoin ETF. If approved, Litecoin would become the third cryptocurrency to be available for trading on a U.S. stock exchange.

However, Litecoin’s price chart showed bearish signals on Monday. Despite the token’s price being above the 100-EMA and 200-EMA trend lines, Litecoin’s price dropped by 4.2% at press time.

With a current price of $129.84, Litecoin’s technical analysis predicted a possible sell-off. Litecoin’s MACD formed a bearish crossover, indicating a potential price decrease toward the $100 support level.

Further跌破nt that level could trigger a larger sell-off, potentially bringing Litecoin’s price down to the $71 support.

Solana Price Struggles at Resistance Level

Solana’s price faced resistance on Monday, despite the network’s record-breaking DeFi activity. Solana experienced a significant downfall throughout February, but analysis suggested a possible price recovery this March.

Solana’s network has slowly become a DeFi hub, with the meme coins on Solana seeing massive adoption. In January, the Solana network recorded DEX volume of $258 billion, which was 300% higher than Ethereum’s volume.

Solana’s ecosystem extends beyond meme coins, handling mainstream adoption of web3 use cases. SOL-based investment products saw a net inflow of $4.5 million, indicating strong investor confidence in Solana.

Solana was trading at $172.28 on Monday, with a slight increase of 2% in the past 24 hours. Solana’s daily chart began showing signs of recovery, with SOL’s price above the 100-EMA and 200-EMA trend lines.

If the bulls regain dominance, Solana’s price could outpace Litecoin and attempt to break through the $294 resistance level in the upcoming quarter.

Lunex Network Surges 425% in Presale with Noncustodial DeFi Protocol

Lunex Network’s noncustodial DeFi protocol attracted thousands of investors in its presale, presenting a better crypto investment opportunity compared to both LTC and SOL.

Lunex Network simplifies trading by enabling cross-chain transfers on over 40 different blockchain networks with 50,000+ cryptocurrency pairs.

The platform’s user-centric approach has led to the sale of more than half of its presale token supply in record time. The platform already noted a massive price jump from the initial selling price of $0.0012, with analysts expecting even bigger surges as the LNEX token advances to the next presale stage.

Early investors can directly obtain their LNEX tokens, which they can then choose to lock for a predefined period and earn up to 18% APYs.

Moreover, Lunex Network also shares a percentage of its weekly revenue with long-term token holders through an open market buyback of LNEX. This mechanism increases the demand for LNEX on DEXs, ultimately driving up the token’s value over time.

Being a governance token, investors can use their LNEX tokens to vote on crucial decisions in the Lunex Network ecosystem.

LNEX tokens are currently priced at only $0.007 during the presale, making now the ideal time to join the Lunex Network ecosystem at a low entry point.

To learn more about Lunex Network, visit the website and join Lunex’s growing community.