Litecoin’s position in the top 10 may be under threat as it continues to struggle in the market. Even though the mid-term and long-term outlook shows there’s light ahead, the present is less appealing.
There has been pressure from Cardano (ADA) which in the last seven days has gained 14% more than LTC. In the last 24 hours, Litecoin value gained by less than 4%, allowing ADA to make up ground with a 24% rally and a daily trading volume of $867 million compared to $380 million worth of LTC traded in the same period.
And that allowed Cardano to sneak up into 6th. Litecoin traded in the green during the Asian hours Saturday before briefly turning red over the hour-to-hour and 24-hour charts in the afternoon.
The coin recovered from the slide to climb above the -1.59% drop to record 0.55%. This marginal gain cuts into the gains made over the week.
The weekend sentiment may be tough on LTC this weekend as its +3% price gain over 7 days begins to test its support levels. Compared to other projects in the top 10, LTC betters XRP only, which has dropped to trade at +1% over the past week. Read more from stocksgazette.com…
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