Crypto

Litecoin Price Heads Below $80 Following Major Dip

When the Bitcoin price goes in the deep red without any real reason, the altcoins will be quick to follow. Although traders and investors do not like to see things heading down this path, there is little one can do about it at the current pace. The Litecoin price, while usually relatively stable, is also under a lot of pressure. Its value has dipped below $80 and could even drop below $75 in very quick succession.

Litecoin Price Momentum Needs a Rebound

While it is rather normal to see all cryptocurrency markets go through a correction of some sorts, no one expected losses of 10% or more for some of the top altcoins. That in itself makes this line of developments all the more interesting, although one has to keep in mind things can easily reverse course in quick succession. For

Litecoin, it seems the steep losses are facing some resistance, but the overall trend is not necessarily all that worrisome just yet.

To put this in perspective, the Litecoin price has lost over 10.5% in USD value, as it currently sits at $78.63. A drop below $80 was not necessarily what users expected, given how LTC was priced at $94 just a day or two ago. Even so, this mainly because of Bitcoin’s downtrend, combined with losses in LTC/BTC of 7.35%. As such, it will be interesting to see if Litecoin remains below $80 for long, or bounces back in rather quick succession.

When looking across social media, it quickly becomes apparent there is a major focus on the current price chart, which is only normal. B. Lorenz expects a buy opportunity for Litecoin to materialize in the very near future, although it remains to be seen if that will yield some buy pressure or further losses in the coming hours. As long as the value remains near $77, there is nothing to worry about as of right now.

Teklordz sees this current momentum as a “healthy pullback”, which might be a bit of a stretch. It is not necessarily the biggest concern whatsoever, but if the value would drop below $75, it seems likely a lot of people will grow wary first and foremost. One thing to keep in mind is how Litecoin is seemingly a lot more volatile compared to Bitcoin, which may not be the most promising sign.

Related Post

Last but not least, there is a chart shared by Justfive. Longing Litecoin at its lowest point reached today is a very gutsy move, although it may very well play out for the better. Assuming there is a bounce, things will effectively pick up steam pretty quickly. However, there is also a chance the market will continue down this bearish path, which would put a lot of pressure on Litecoin and other crypto markets as well.

When looking at all of the other markets, it would appear things could get pretty interesting moving forward. If Bitcoin can overcome this dip without too many problems, the overall bulltrend may very well continue for quite some time to come. However, that bounce needs to materialize ahead of the weekend, or things could get out of hand even further. For Litecoin, the momentum will primarily depend on what happens to Bitcoin.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Qubetics $7.4M Presale Revolutionises Blockchain as Bitcoin and Chainlink Drive Innovation: Best Cryptos to Buy for 2025

The crypto market is abuzz with excitement as 2025 approaches. While Bitcoin continues to dominate…

4 hours ago

Best Altcoins to Buy Today: Why Qubetics’ Presale Could Be the Best Investment Opportunity of 2024

The cryptocurrency market never sleeps, and every day feels like an adventure. From household names…

10 hours ago

Forget DOGE and SHIB: These 5 Memecoins Are 2025’s Millionaire Makers

The memecoin craze is evolving, and a new wave of contenders is rising. With fresh…

19 hours ago

While Ethereum Approaches $6K, XYZVerse Prepares for a 16,900% Market Shakeup

As Ethereum's value inches toward unprecedented heights, another digital asset is set to make a…

19 hours ago

Four Meme Coins That Might Disappoint and One That Could Deliver Big Gains

Meme coins are the wild cards of the crypto world—one day they're "to the moon,"…

19 hours ago

Winter’s Altcoin Season to Explode: 3 Cryptos Every Trader Should Know!

As temperatures drop, the crypto market is heating up with anticipation. This winter could witness…

19 hours ago