Without a clear-cut direction, LTC is trading around $65.4 and ranging between $64.9 and $66.63.
Litecoin is approaching key support, around $1.93 away from $63.47. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. LTC made an initial breakout above its 5 day Simple Moving Average at $66.27, a potential indicator of a newly emerging bullish phase. A "Bullish Engulfing" pattern — a scenario when a larger green candle engulfs a smaller red candle, at the bottom of a prevailing downtrend. Typically this is a signal of higher prices in the near term. LTC's upper Bollinger Band® is at $84.83 and the lower is $61.83. On the other hand, note that having stamped out a session range of $64.9 to $66.63, Fibonacci-inclined Litecoin traders were highly concentrated around active Fibonacci support at $64.83.
Although price action remains in a stalemate, technical analysis suggests Litecoin could be primed for a break to the upside.
At the same time, mixed performances are seen elsewhere as Dogecoin closed at $0.073 (down 2.25%). After ending today's session at $0.35, Ripple lost $0.006 and is trading around $0.343. Cardano descends 2.04% to trade around $0.254.
LTC has fallen back around 60.38% from the significant high of $165.75 set 11 months ago. LTC has a market cap of 4.70 billion with an average daily volume of 80.60 million.