Currently trading at $84.28, LTC remains range-bound between $83.34 and $84.49.
Following today's trading session, chart analysis suggests Litecoin could be slowing down soon as it approaches resistance at $88.12. Of course, crossing it might suggest further gains are ahead. Trend-following investors would be interested to note that 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. According to asset volatility analysis, Litecoin's lower Bollinger Band® is at $83.65, indicating that the market is oversold and fertile for new buyers.
Overall, the technical outlook suggests LTC is likely to remain muted for the immediate future, with no clear-cut direction.
Other markets are also showing gains as FTX Token surges 9.54% to trade around $1.36. Solana climbs 2.24% to trade around $22.45.
At the same time, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
LTC has fallen back around 18% over the past 2 months, from a notable high of $102.04. Litecoin has a market cap of 6.14 billion with an average daily volume of 552.37 million.