Litecoin posts light gains on a low-volatility day, ranging between $86.42 – $88.64 and is now at $88.64.
Litecoin made an initial breakout above its 50 day Simple Moving Average at $88.32, a potential indicator of a newly emerging bullish phase. Litecoin's lower Bollinger Band® is at $82.85, indicating that the market is oversold and fertile for new buyers. In contrast, LTC is 58 cents away from testing key resistance at $88.06. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems Litecoin might continue pointing upwards in the short term.
Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36. Chainlink USD added 2.17% to its value, now trading at $7.24.
Meanwhile, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
LTC has appreciated 56.96% over the past six months. LTC has a market cap of 6.45 billion with an average daily volume of 564.52 million.