Litecoin Loses Ground to Bitcoin as Huge February Spike is Quelled

Litecoin Loses Ground to Bitcoin as Huge February Spike is Quelled; Coming off yesterday’s highly volatile market, it appears the uncertainty is to continue as most crypto markets struggle to regain lost momentum.

First to stabilize is Bitcoin (BTC), which is now inching its way over $3,800, while Litecoin (LTC) appears to be following in its footsteps, creeping it’s way past $45 after falling from over $52 just three days ago.

With the entire cryptocurrency market being in a somewhat volatile phase right now, the next move for most digital assets is particularly unpredictable right now, with the bulk of the market trading cautiously sideways waiting for positive or negative news to disturb the trend.

Litecoin (LTC) Graph – Feb 27 -2019

litecoin

In the past three weeks, LTC has seen extraordinary fluctuations in its price, growing by more than 50% to reach over $52, before quickly losing almost a quarter of these gains to re-retouch $45. Now, it appears that Litecoin will continue to fall, potentially reaching $37.50 by March as LTC again loses ground to BTC.

Most technicals on the 24-hour timeframe indicate LTC is a weak buy, though this has shifted to a weak sell in the last four hours, as sell orders begin to outweigh buy orders. This indicates that LTC markets may be changing direction.

Despite the ominous short-term trend, things may be looking up for Litecoin in the long-term, with a recently announced partnership between the Litecoin Foundation and Glory Kickboxing set to improve the public presence of the coin.

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