Today will undoubtedly prove to be an interesting day for all cryptocurrencies and digital assets. Although the hourly charts signal more bearish momentum is coming, the daily chart still looks pretty solid. For the Litecoin price, however, things are not heading in the right direction. A current drop to $25 is in effect, albeit that may not be the bottom for today.
It is not uncommon to see altcoins go in the red when Bitcoin looks incredibly fragile on the hourly chart. Today, it would appear it is a matter of time until Bitcoin goes in the red again, although there doesn’t appear to be overwhelming pressure to make this happen. Instead, it is the altcoins like Litecoin which are feeling the pressure first. That is a bit worrisome, as those currencies usually show a trend which will hit the remainder of the market fairly soon.