# Why is Litecoin’s price down today?

**Published by:** [Masih](https://paragraph.com/@4545f/)
**Published on:** 2023-08-16
**URL:** https://paragraph.com/@4545f/why-is-litecoin-s-price-down-today

## Content

Litecoin's price is down today, partly due to the "sell the news" sentiment following its Aug. 2 halving. Litecoin's LTC $76.84 price is down today, mirroring downside moves elsewhere in the cryptocurrency market. LTC price fell over 1.5% on Aug. 16 to around $78.25, underperforming the rest of the crypto market, which dropped 0.65% in the same period. The downside move came as a part of a broader pullback trend that started in early July. The crypto market decline coincided with the U.S. dollar index's (DXY) recovery, as Cointelegraph discussed here. However, Litecoin's correction started a week earlier than the crypto market's, driven by its overbought relative strength index (RSI) and a drying buying sentiment in the days leading up to its "halving" on Aug. 2. LTC price has dropped over 30% since the day its RSI crossed the overbought threshold reading of 70. Meanwhile, when measured from the halving day, the price is down 16.45% — hinting at a "sell the news" scenario extending into Aug. 16's bearish session.LTC 'hodling' sentiment strong through selloffData tracking addresses that have held Litecoin for more than 155 days — aka "hodlers" — show a persistent accumulation sentiment. Notably, the monthly Hodler Net Position Change metric flipped from negative to positive on July 23 and has remained the same ever since. In other words, Litecoin's most loyal investors have accumulated LTC tokens ahead and after halving, displaying their bullishness toward its market. https://cointelegraph.com/news/why-is-litecoin-price-down-today

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