Slightly weaker but mostly flat: Litecoin is currently trading at $94.41 as it maintains an active range between $93.77 and $96.14.
Litecoin could begin to recover as it approaches significant support, now $2.06 away from $92.35. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Litecoin peaked above its 3 day Simple Moving Average around $97 — typically an early indicator of a new bullish trend beginning to emerge. Litecoin's lower Bollinger Band® is at $89.76, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. On the other hand, note that price action remains constrained around the key Fibonacci level of $93.59 currently serving as support. If price action breaks below, the next Fib hurdle is $91.49.
Technical analysis indicates that LTC (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD retreats 2.98% to trade around $6.43.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Chainlink USD climbs 3.54% to trade around $8.
This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 31.75% year to date. LTC has a market cap of 6.83 billion with an average daily volume of 399.47 million.