LTC is consolidating around the $92.28 level after dropping $2.14 at the start of the trading session.
Litecoin fell below the $93.04 support zone and moved 76 cents beyond it; the next level of support with significant buyer interest is estimated at $91.52. LTC made an initial break below its 21 day Simple Moving Average at $91.4, a possible indication of a forthcoming negative trend. LTC's upper Bollinger Band® is at $95.11 which indicates a further downward move may follow.
Overall, the technical analysis landscape suggests that on the balance of probability, LTC is expected to maintain its bearish bias.
In the meantime, negative performances are also seen in other markets, TRON is down to $0.064, losing $0.003, after closing at $0.066 in the preceding trading session. Dogecoin is down to $0.082, losing $0.002, after closing at $0.084 in the preceding trading session.
Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36.
Litecoin has managed to gain 33.46% so far this year despite trading at lows around $43.3 previously. Litecoin has a market cap of 6.71 billion with an average daily volume of 575.41 million.