Litecoin (LTC) has fallen back below $5 for the first time in 6 days as volatility has once again returned.
Since the resumption of selling 24h ago, LTC has shed 7.5%. LTC had previously kept to a relatively tight range around $5.30-5.40. The latest series of drops began suddenly, likely due to a multifold increase in volume. A total of $3.5 million of LTC has been traded during the past 24h.
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LTC currently trades at $4.97 on BTC-e. Versus BTC, which continues to trade virtually unchanged, LTC has dropped to 0.0109.
The $4.90 level will be the one to watch over the next 24-48h. It served as a valuable support line earlier this month and served as the floor for additional advances in LTC’s recovery from the August sell-off.