After hitting its highest point in 6 months at $78.78, Litecoin dropped by $1.02 and is now trading at $77.75.
Litecoin chart analysis: although Litecoin is down today and was as low as $76.04, it seems to be recovering slightly and climbing away from the $70.35 support line and is now $7.41 above it. Trend-focused traders would be interested to note that investors are seeking long positions as Litecoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates LTC is in an overbought condition. According to asset volatility analysis, Litecoin's upper Bollinger Band® is at $76.66 which indicates a further downward move may follow.
Overall, while Litecoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Positive performances can be seen by looking at other markets as having closed the previous session at $1,183, Ethereum is up 2.34% today to currently trade at around $1,210.67. Having closed the previous session at $1.29, FTX Token is up 2.34% today to currently trade at around $1.32.
LTC reached a significant high of $223.25 around 11 months ago but has lost 64.71% since then. Litecoin has a market cap of 5.57 billion with an average daily volume of 109 million.