Litecoin Price: Down 26% in 30 Days, Now the 200-Day Line Decides

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Litecoin lost 7.9% in 24 hours and 26% in 30 days as the Nasdaq rout hit crypto. The levels that count now, what could turn the picture and how to hedge.Symbol image, created with AIAdd as a preferred source on GoogleFollow on Google NewsLitecoin traded at $51.73 at 18:23 UTC, down 7.9% in 24 hours, 11.8% in seven days and 26% in 30 days (CoinGecko). Bitcoin lost 5.6% over the same 24 hours. The trigger came from outside: a Nasdaq chip rout that hit every large coin. The full background is in our piece on the Bitcoin crash. Here is what it means for LTC: which levels count, what could change the picture and how to hedge. Why Is Litecoin Down? It Follows Bitcoin We found no Litecoin-specific trigger for Thursday's drop. The daily returns of LTC and Bitcoin over the past 30 days have a correlation of 0.89 by our calculation from Binance data, so LTC mostly follows the market. Liquidations of leveraged longs across crypto added pressure. For the project itself, recent news includes...