LTC is on a bit of a rollercoaster today: spiking to $65.53 only to drop back to $63.38, now rallying again to $65.14.
Litecoin made an initial breakout above its 3 day Simple Moving Average at $65.18, a potential indicator of a newly emerging bullish phase. LTC formed a session range of $63.24 to $65.53 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $64.83. LTC's lower Bollinger Band® is at $62.96, indicating that the market is oversold and fertile for new buyers. In contrast, LTC is 7 cents away from testing key resistance at $65.21. Peaking above this level could inspire market bulls and open the path to further gains.
LTC continues to move higher with technical analysis indicating the trend will continue in the short term.
LTC shows positive signs, other assets are also on par: Binance Coin is up 3.59%. Having closed the previous session at $0.072, Dogecoin is up 4.4% today to currently trade at around $0.075. Ethereum is up 3.46% to $1,208.62.
Over the past 11 months, LTC has retreated 61.76% from a noteworthy peak of $165.75. LTC is currently trading with a market cap of 4.68 billion with an average daily volume of 82.67 million.