Marginally higher but lacking a clear-cut direction, Litecoin is trading at $61.91 after ranging between $60.42 and $64.17 today.
Litecoin made an initial breakout above its 200 day Simple Moving Average at $62.63, a potential indicator of a newly emerging bullish phase. In contrast, although Litecoin is appreciating today after rising as high as $64.17, price action is now slowing and consolidating around $2.46 below the $64.37 resistance level. First developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In LTC's case, the RSI has fallen below 30, indicating the asset is oversold.
According to technical analysis, it looks as if LTC likely to continue pointing upward in the short term.
Litecoin shows positive signs, other assets are also on par: MaticNetwork USD is up 10.25%. Binance Coin gained 3.93% and is currently trading at $332.51. Chainlink USD ascends 6.18% to trade around $7.88.
Litecoin is now trading 78.17% below the significant high of $277.93 it set around 11 months ago. Litecoin is currently trading with a market cap of 4.43 billion with an average daily volume of 35.63 million.