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Litecoin price could dip lower as the broader crypto market underperforms

Litecoin price could dip lower as the broader crypto market underperforms thumbnail

Litecoin has been underperforming over the last seven days and could record further losses before the end of the week.

LTC, the native coin of the Litecoin blockchain, has been underperforming over the last few days. The coin is down by more than 5% in the last seven days and has lost more than 2% of its value over the past 24 hours.

However, with LTC underperforming at the moment, what is the outlook after this latest dip?

What drove the Litecoin price to dip toward $50?

LTC is trading at around $51 per coin at press time. The cryptocurrency could record further losses and lose its support above the $50 psychological level over the next few hours.

Litecoin’s poor performance comes as the Litecoin Foundation announced on Tuesday, October 11th, that its MWEB feature will soon come to mobile phones.

#MWEB is coming..https://t.co/KrOBLnfkbd

— Litecoin (@litecoin) October 11, 2022

MWEB is a privacy-preserving improvement on the Litecoin network. Essentially, MWEB makes Litecoin a sounder way to transact with as it doesn’t allow the

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