$LTC As of today, March 6, 2025, the price of Litecoin (LTC) has dropped to $104.43, reflecting the ongoing pressure in the cryptocurrency market.
Main reasons for the decline in LTC price:
1. Overall decline in cryptocurrency market capitalization: Over the past day, the total market capitalization of cryptocurrencies has decreased by approximately 8%, reaching $2.93 trillion. This is the lowest value since mid-November 2024. Such a general market decline puts pressure on the prices of most cryptocurrencies, including Litecoin.
2. Technical factors: Litecoin failed to overcome the resistance level at $135, which led to increased selling pressure and the subsequent decline in price.
3. Macroeconomic factors: Global economic conditions, including changes in monetary policy and geopolitical instability, can affect the decline in investor interest in risky assets such as cryptocurrencies.
Thus, the current decline in Litecoin's price is due to a combination of market and technical factors.
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