Litecoin (LTC/USD) has failed to keep up with Bitcoin’s recent gains, a deviation from the old days when it more typically amplified BTC’s big moves.
It is currently trading at $3.76 on BTC-e, but vs bitcoin, has slipped below the psychologically significant 0.01 BTC mark to 0.00997. LTC/BTC had been hovering about the mark for the past 5 days after falling as low as 0.00905, which was caused by BTC’s spike to above $450.
On that occasion, it can be argued that the crypto rally was not met with equal enthusiasm by all coins and was perhaps motivated by artificial transient demand, as reinforced by BTC’s prompt reversal.
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The 0.009 mark was the lowest since falling below 0.008 during the August sell-off.
LTC/BTC’s recent underperformance has sent it under its 50-day moving average (MA) in November. The MA is currently worth 0.0105 and has resumed its decline after rising and then staying flat throughout October.