After three days of going down, Litecoin is flat today, hovering around $77.85

LTC is now trading at $77.85 after tracing out a steady $77.24 – $78.05 range today.

As the trading day commences, technical analysis suggests Litecoin is approaching key support, around $1.59 away from $76.26. 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. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that LTC's upper Bollinger Band® is at $100.64 and the lower is $73.76.

With market volatility ebbing, the current technical outlook indicates LTC will remain range-bound for the immediate future.

Approximately 3 months ago, Litecoin reached a significant high of $102.04 but has struggled to hold onto its gains and declined 24.09% since then. LTC is currently trading with a market cap of 5.69 billion with an average daily volume of 561.85 million.