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

on Oct 1, 2018
Updated: Oct 11, 2019
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The Litecoin price (LTC/USD) has struggled to held above the $60 mark on Monday, after incurring significant losses over the past few sessions.

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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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