LTC posts light gains on a low-volatility day, ranging between $54.88 – $55.63 and is now at $55.41.
Litecoin could be slowing down soon as it approaches resistance at $56.77. Of course, crossing it might suggest further gains are ahead. Despite posting gains so far today, Litecoin slid below its 10 day Simple Moving Average at $54.88 in earlier trade — an early indicator that a negative trend could be emerging. Litecoin's upper Bollinger Band® is at $57.5, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest LTC is set for a reversal in the coming days.
Other markets are also showing gains as Dogecoin is up 13.34% to $0.144. Having closed the previous session at $6.62, Polkadot is up 0.93% today to currently trade at around $6.68.
Meanwhile, after ending today's session at $0.464, Ripple lost $0.004 and is trading around $0.46.
LTC reached a significant high of $277.93 around 11 months ago but has lost 80.19% since then. LTC is currently trading with a market cap of 3.96 billion with an average daily volume of 27.39 million.