Litecoin is trading in the red today and could see further losses, according to the technical charts. As of writing, litecoin (LTC) is changing hands at $194 and has depreciated by 5 percent in the last 24 hours, according to data source CoinMarketCap.
The world’s fifth largest cryptocurrency fell to $189 earlier today, the lowest level since Feb. 23.
LTC was solidly bid for a better part of the last month, rising as high as $252 on Bitfinex on Feb. 20.
However, following the litecoin cash (LCC) hard fork, the bull run faltered and prices fell to a low of $182 on Feb. 23.
Subsequently, LTC saw its price range narrow, forming a series of lower highs and higher lows, which ended with a downside break yesterday. The drop to 12-day lows seen today is largely in line with the weakness seen in the broader market, however. Read more from coindesk.com…
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