Litecoin, together with the complete market recovery, was taking good steps towards price gain, however in a matter of minutes the pair LTC/USD declined for 20 percentage points.
The major sell-off as its happening quite often, was lead by Bitcoin then Ethereum and so on. Litecoin did drop from $79 to $63, which mark has not been met since Sep 5 of another minor value crash. The market cap experienced proportionally the same descending for almost $1 bln: from $4.1 billion high to $3.3 bln low – According to Coinmarketcap.
A 13.73 percent loss in the last 24-hours, third highest decline after Bitcoin Cash and Ethereum Classic.
The price trade as paired with US Dollar right now is just hovering below the $70 level while it did break it once but the buyers could not withstand the quick-term selling pressure made on the particular resistance point.
There will be continually attempts to get the price over the $70 and keep it there with stable ground but mind the sellers that want to book some profit in case there could be a near term market drop like Today morning.
Overall, the price of Litecoin and each of every-coin develops depending on the popularity, demand and network upgrade but for now the market has a whole for two weeks now is shifting between ascending and descending – following the leaders Bitcoin first movement.