Litecoin's price has dropped even further in the last 24 hours.

From what the technical outlook suggests, a recovery for Litecoin seems unlikely.

For a short while, LTC's price may benefit from a rise in Bitcoin's value, but for the price to turn around, more people need to start using LTC.

For a short while, LTC's price may benefit from a rise in Bitcoin's value, but for the price to turn around, more people need to start using LTC.

Since the coin has reached a short-term low on its daily chart, the possibility of a reversal cannot be completely ruled out.

Since the coin has reached a short-term low on its daily chart, the possibility of a reversal cannot be completely ruled out.

Despite Litecoin crossing the $70 mark, demand was not on the bulls' side.

Despite Litecoin crossing the $70 mark, demand was not on the bulls' side.

Market capitalization, on the other hand, showed a slight increase, which could indicate that the coin is attempting to turn its price around.

Market capitalization, on the other hand, showed a slight increase, which could indicate that the coin is attempting to turn its price around.

As LTC falls further, the local support line for the altcoin was $66, below which LTC could halt at $56.

As LTC falls further, the local support line for the altcoin was $66, below which LTC could halt at $56.

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