Litecoin drops 8.5% as the crypto rout accelerates into the long weekend

Litecoin nears the February lows

I’ve noticed a pattern of cryptocurrencies struggling ahead of the weekend. In this case, it’s a long weekend, so the pain has come a bit early.

The selling is hitting across the board but Litecoin is in particularly bad shape. It’s down 8.5% today and threatening the lowest close since December as it trades at $120.76, up from the low of $116.75. It’s fallen for five consecutive days for a net decline of 27%.

Technically, the intraday spikes near $100 are critical support.

One small bit of good news for crypto is that April seasonals are a bit better, at least for Bitcoin.