LTC weakened earlier in the day, before moving away from its $85.43 low and recovering back to $86.12.
Litecoin made an initial break below its 5 day Simple Moving Average at $86.3, a possible indication of a forthcoming negative trend. LTC's upper Bollinger Band® is at $91.51 which indicates a further downward move may follow. In contrast, although LTC is down today and was as low as $85.43, it seems to be recovering slightly and climbing away from the $85.5 support line and is now 62 cents above it.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for LTC.
In the meantime, negative performances are also seen in other markets, EOS closed at $1.03 (down 2.74%). Dogecoin is down to $0.084, losing $0.002, after closing at $0.086 in the preceding trading session.
Other assets are showing positive performances as FTX Token is up 9.54% to $1.36.
Litecoin has gained 23.23% since its lowest print of $43.3 earlier this year. LTC is currently trading with a market cap of 6.21 billion with an average daily volume of 87 million.