Over the last week, the litecoin price fell by 13% to $64, breaking a line of long-term support.
Only in the last 30 days litecoin dropped by 33%, and investors who continued to hold the asset after halving August 5, wonder how long it will last. The Creator of litecoin Charlie Lee back in mid-July warned that August can be a bad month for Aldona, as the interest of miners to him will decrease dramatically. And he was right – at the end of last week, Hasrat litecoin fell by almost 30%.
However, litecoin remains the fifth largest cryptocurrency with a market capitalization of $4,06 billion.
On the chart of LTC/USD litecoin keeps falling and has broken the rising trendline 2019, which has long served as a reliable podderjkoi. Trading volume increased slightly in the latest round of sales; RSI well below 50, which indicates the oversold of the asset. As a sign of recovery we can expect the return of the RSI back to 50.
Bitcoin vs litecoin continued to fall below the 2018 minimum level 0,0068 BTC and is currently trading at 0,00666 BTC. This latest price drop has actually become a new 20-month low – a price not seen since Dec 2017. Trading volume also rose sharply during the recent sales. Here the RSI is not oversold, but this, unfortunately, can say that there is a possibility for an even lower drop.