Marginally higher but lacking a clear-cut direction, LTC is trading at $87.15 after ranging between $85.03 and $87.16 today.
Following today's trading session, chart analysis suggests Litecoin broke through the $86.2 resistance and climbed 95 cents above it. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Price action remains constrained around the key Fibonacci level of $86.11 currently serving as resistance Analysis based on the asset volatility indicates that Litecoin's lower Bollinger Band® is at $83.46, indicating that the market is oversold and fertile for new buyers.
With market volatility ebbing, the current technical outlook indicates LTC will remain range-bound for the immediate future.
Other markets are also showing gains as FTX Token is up 9.54%. Ripple is up 4.75%. Having closed the previous session at $321.49, Binance Coin is up 3.23% today to currently trade at around $331.86.
The past 6 months have been positive for LTC as it appreciated 66.64%, having traded as low as $43.3. LTC is currently trading with a market cap of 6.34 billion with an average daily volume of 582.47 million.
