Tentatively higher from an earlier low of $56.58, Litecoin is up to $58.22 today, adding $1.62, or 2.85%, to today's closing price of $56.6.
Litecoin made an initial breakout above its 21 day Simple Moving Average at $59.21, a potential indicator of a newly emerging bullish phase. Litecoin formed a session range of $56.58 to $59.43 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $57.59. Despite this, Litecoin reversed direction at $59.48 resistance zone and retreated back $1.26 below it.
Examining the technical analysis landscape, LTC might continue its downtrend in the short term.
Other markets are also showing gains as having closed the previous session at $1.49, FTX Token is up 25.39% today to currently trade at around $1.87. Algorand USD gained 5.55% and is currently trading at $0.275. MaticNetwork USD added 3.29% to its value, now trading at $0.945.
Since its 52-week high of $277.93, Litecoin has lost 79.63% over the last twelve months. LTC is currently trading with a market cap of 4.17 billion with an average daily volume of 89.84 million.