Litecoin price (LTC/USD) tumbles in Monday afternoon trading

The digital currency struggles to defend $60

Litecoin price (LTC/USD) tumbles in Monday afternoon trading

The Litecoin price (LTC/USD) has struggled to held above the $60 mark on Monday, after incurring significant losses over the past few sessions.

Most of Litecoin’s recent losses came occurred on Friday afternoon, as the digital coin lost momentum after rising to a three-week high of $64.42. The coin finished the session at $61.90 and then suffered another drop that brought its price below the $60 mark in Saturday’s morning session. However, the coin managed to bounce back in the afternoon and finished the session at $61.61.

Litecoin continued to struggle throughout the Sunday session, with its price experiencing frequent fluctuations. The $60 support held, albeit barely, in late trading, allowing LTC to rebound again and mitigate its losses for the day. Litecoin finished the Sunday session at $61.14, only slightly down from its opening level of $61.63.

Despite yesterday’s late rebound, Litecoin has been unable to gain enough momentum in today’s trading. The Litecoin price, already moving on a downward trajectory, nosedived in recent trading, tumbling down from around $61 to an intraday low of $59.74 over the course of just over an hour. The coin has since managed to recover some of its losses, with its price currently hovering around $60, according to data from digital currency tracker Coinmarketcap.

The market activity has remained strong during today’s action-packed session, with recent data showing that some $459 million LTC tokens have changed hands over the past 24 hours. Notably, a volume of trading ($77.3 million), generated on minor crypto exchange DOBI Trade, has been excluded by Coinmaketcap from that figure.

In today’s trading, the Litecoin price stood at $60.01, as of 16:16 BST. The digital coin has lost 1.9% of its value in the past 24 hours.

For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.

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