Overall, LTC had a 0.7% move or $0.36 today and is currently trading at $51.56.
Litecoin made an initial breakout above its 10 day Simple Moving Average at $51.44, a potential indicator of a newly emerging bullish phase. Litecoin's lower Bollinger Band® is at $49.78, indicating that the market is oversold and fertile for new buyers. On the other hand, note that LTC could be slowing down soon; it is getting close to the resistance line and is now at $52.03, only 46 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems LTC might continue pointing upwards in the short term.
Other markets are also showing gains as EOS is up 1.55%. Having closed the previous session at $1,283, Ethereum is up 1.22% today to currently trade at around $1,298.65.
LTC is now trading 81.58% below the significant high of $277.93 it set around 11 months ago. LTC has a market cap of 3.68 billion with an average daily volume of 25.68 million.