Bitcoin Monday morning finally took a breather from the incredible gains of the past few days. Having moved from $5,700 to close to $7,600 in just one week, bitcoin fell back by about 2 percent to $7,200 during the Asian trading session on Monday.
Bitcoin’s younger sibling litecoin was also down slightly during early morning trading on Monday, shredding off 1.1 percent to $53 as of midday in Asia. Despite recent days’ slight losses, litecoin’s longer-term healthy uptrend is still intact, with the price now trading near the lower end of the range, indicating a potentially good buying opportunity.
Ethereum also traded down Monday morning, losing a slight 0.77 percent to $293 at midday in the Asian trading session. The longer-term trend line in ethereum may be due for a test later in the month, thus providing some guidance on further direction of the price.