LTC drops from $89 to $88, losing $1 (1.13%) today.
Litecoin made an initial break below its 10 day Simple Moving Average at $88.95, a possible indication of a forthcoming negative trend. On the other hand, note that Litecoin could begin to recover as it approaches significant support, now $2.15 away from $85.86. Dipping below could be an indication that further losses are ahead.
In the short term, LTC is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, EOS stumbles 3.04% to trade around $1. Bitcoin Cash closed at $117.13 (down 2.56%).
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Litecoin has fallen back around 12.77% from the significant high of $102.04 set 2 months ago. LTC is currently trading with a market cap of 6.41 billion with an average daily volume of 569.98 million.