Litecoin has rallied $3.62, or 3.86%, to now stand at $97.6.
LTC's notable support and resistance levels: Litecoin reversed direction at $97.22 resistance zone and retreated back 38 cents below it. Concerning technical analysis and more specifically, trend indicators, Litecoin made an initial breakout above its 21 day Simple Moving Average at $95.67, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $101.74, thereby suggesting that LTC is becoming overvalued.
Notwithstanding Litecoin's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
LTC shows positive signs, other assets are also on par: FTX Token is up 9.54%. EOS is up 3.66%. Bitcoin gained 2.45% and is currently trading at $23,739.
LTC has gained 37.19% since its lowest print of $43.3 earlier this year. Litecoin has a market cap of 7 billion with an average daily volume of 505.97 million.