As the overall bearish trend remains in place, for the time being, it is only normal altcoins will come under a lot of pressure. Although last week was pretty good for Litecoin in many different ways, it appears that momentum has come to an end. The Litecoin price is struggling to remain above $40 right now, yet it seems the 0.01 BTC level should be maintained for the foreseeable future.
Litecoin Price Momentum Takes a Breather
One has to acknowledge last week saw some pretty crazy Litecoin action. Over the course of the week, the altcoin rose to the #4 market cap spot following a strong 40% gain. Sustaining such momentum seemed to be doable, although Bitcoin’s momentum decided to spoil that party rather abruptly. When Bitcoin loses value in quick succession, all other currencies will follow suit. Litecoin is no exception in…