LTC slides down from $78.57 to $75.23 today, losing $3.34 (4.25%).
Litecoin made an initial break below its 3 day Simple Moving Average at $75.31, a possible indication of a forthcoming negative trend. LTC's upper Bollinger Band® is at $77.71 which indicates a further downward move may follow. Despite this, LTC could begin to recover as it approaches significant support, now 59 cents away from $74.65. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Litecoin.
In the meantime, negative performances are also seen in other markets, Binance Coin closed at $295.28 (down 1.59%).
Other assets are showing positive performances as EOS is up 3.17%. Ripple gained 2.32% and is currently trading at $0.41.
LTC reached a significant high of $223.25 around 11 months ago but has lost 64.81% since then. Litecoin has a market cap of 5.39 billion with an average daily volume of 110.93 million.