Without a clear-cut direction, LTC is trading around $90.53 and ranging between $90.03 and $90.9.
Litecoin made an initial break below its 21 day Simple Moving Average at $90.21, a possible indication of a forthcoming negative trend. LTC's upper Bollinger Band® is at $94.5, suggesting that a downward move may follow. In contrast, LTC is approaching key support, around 97 cents away from $89.56. 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.
Despite the market lacking direction, technical chart analysis strongly suggests Litecoin is positioned for a downward move in the near term.
While Litecoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token rallies 9.54% to trade around $1.36. Polkadot is down to $6.15, losing $0.062, after closing at $6.21 in the preceding trading session. UNICORN Token USD improves 1.62% to trade around $6.47.
LTC has appreciated 67.2% over the past six months. LTC has a market cap of 6.58 billion with an average daily volume of 570.75 million.