Litecoin has observed a plunge of more than 7% in the last 24 hours, suggesting that the coin’s bullish momentum may have come to an end.
Litecoin Drops Hard TodayS But Is Up 20% In The Last Month
While the rest of the crypto market was struggling, LTC enjoyed some sharp bullish momentum in the third leg of November, leading some to believe the “pre-halving rally” had begun for the crypto. But the first half of December proved disappointing as the coin mostly consolidated, and now in the last two days, the trend seems to have completely reversed as Litecoin has been rapidly going down instead.
At the time of writing, LTC is trading around $69, down 7% in the last 24 hours. The below chart shows how the asset’s price has changed in recent months.
As the graph displays, Litecoin was initially on the way up in early November and crossed $70. But then the FTX crash struck the market, and the coin’s price plummeted to a low of less than $50. However, unlike other big cryptocurren
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