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…