After four days of persistent declines, Litecoin stabilises around $89.59

LTC is now trading at $89.59 after tracing out a steady $89.54 – $90.85 range today.

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 $94.84, suggesting that a downward move may follow. In contrast, after reaching the $89.23 support zone, Litecoin bounced and climbed 35 cents above it.

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 is up 9.54% to $1.36. After ending today's session at $0.506, Ripple lost $0.006 and is trading around $0.5. Tezos USD closed at $1.08 (down 1.52%).

Litecoin has appreciated 70% over the past six months. LTC is currently trading with a market cap of 6.51 billion with an average daily volume of 576.42 million.