Litecoin trades at $69.93 after gaining $2.34 (3.46%).
As the trading day comes to an end, chart analysis indicates although Litecoin is appreciating today after rising as high as $71.28, price action is now slowing and consolidating around $1.53 below the $71.47 resistance level. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Litecoin is in a strong overbought condition. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $66.28, thereby suggesting that Litecoin is becoming overvalued.
Overall, while Litecoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
LTC shows positive signs, other assets are also on par: Solana is up 8.45%.
At the same time, FTX Token is trading around $24.53 (down $0.98). Binance Coin closed at $349.51 (down 1.68%).
Litecoin reached a significant high of $277.93 around 11 months ago but has lost 75.68% since then. Litecoin is currently trading with a market cap of 5 billion with an average daily volume of 45 million.