Cryptocurrency market plunged on 11th April after failing to break the market valuation of $190 billion. In the recent plunge, Litecoin lost its 4th position – a position it held since March 2019, to EOS. The sell-off still continues.
Bitcoin failed to break $5,400 and redacted. The cryptocurrency is still above the psychological barrier of $5,000 but barely. Bitcoin is down by 3.83% currently. Altcoins, on the other hand, have been hit sharply, with Litecoin, EOS, and Bitcoin Cash the biggest losers among the top 10 cryptocurrencies.
Litecoin is down by 11.26% in the last 24 hours. This is the lowest Litecoin has been in the past 7 days. The sell-off signal is gaining momentum. While on the other hand EOS is down by 10.06% and due to this difference EOS has been able to overtake Litecoin. Although, this position of EOS is expected to be short-lived as EOS downward trend also gains momentum.
Litecoin’s 7-days chart. Source: Coinmarketcap
Cryptocurrency markets have lost $10 billion in the past 24 hours. Support is forming at $5,000 for Bitcoin which can hold the sell-off for a while. Altcoins seem to be doing way worse than Bitcoin in this sell-off.
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