Krutika Adani
After reaching the $100 level in late March this year, Bitcoin has corrected more than 36% to reach its current levels
Once among the top 10 cryptos, Litecoin has now fallen to 21st rank showing a severe erosion in its market cap.
Litecoin was meant to be a faster version of Bitcoin and is a little outdated at present because almost all other chains, including Ethereum, can do what was once Litecoin’s monopoly. However, the crypto has seen strong network activity in the recent past.
Technical charts show that Litecoin might remain suppressed for a few days but will eventually resume its uptrend that started in early August.
Litecoin could see a pullback towards $85 if it manages to breach the resistance at $74.