At $77.6, LTC is down to its lowest value in 7 weeks

Litecoin fell to a new low at $77.6 today, its lowest value in 7 weeks; today ended at $77.83.

As the day gets underway, chart analysis suggests Litecoin is approaching key support, around $3.52 away from $74.36. 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. With regards to technical trend indicators, chart analysis show that 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 Litecoin's upper Bollinger Band® is at $94.77 and the lower is $77.76.

The current technical outlook indicates Litecoin will continue to ebb sideways within tight ranges for the immediate future.

While Litecoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD added 1.62% to its value, now trading at $6.47.

Having set a significant high of $102.04 2 months ago, LTC is trading 23.73% lower. LTC has a market cap of 5.68 billion with an average daily volume of 534.15 million.