After three days of declines, LTC is up $1.91 today

LTC posts light gains on a low-volatility day, ranging between $86.1 – $89.82 and is now at $89.71.

Litecoin made an initial breakout above its 50 day Simple Moving Average at $88.57, a potential indicator of a newly emerging bullish phase. LTC's lower Bollinger Band® is at $85.1, indicating that the market is oversold and fertile for new buyers. On the other hand, note that LTC could be slowing down soon; it is getting close to the resistance line and is now at $92.89, only $3.19 away. Crossing the resistance line could, however, suggest that further gains are ahead.

Examining the technical analysis landscape, Litecoin might continue its downtrend in the short term.

Litecoin shows positive signs, other assets are also on par: FTX Token soars 9.54% to trade around $1.36. Dogecoin gained 6.67% and is currently trading at $0.071. Bitcoin moves up 3.93% to trade around $26,748.

Having set a significant high of $102.04 3 months ago, LTC is trading 13.95% lower. LTC has a market cap of 6.56 billion with an average daily volume of 564 million.