Bearish Litecoin currently $1.14 lower after trading as high as $77.72

After closing at $77.68 today, LTC opened today at $77.68, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, LTC retains a distinct $76 to $77.72 daily range.

Technical analysis of LTC's past price action reveals multiple support and resistance levels: Litecoin could begin to recover as it approaches significant support, now 53 cents away from $77.07. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest 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 lower Bollinger Band® is at $76.47, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests LTC is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Binance Coin is down to $225.52, losing $9.74, after closing at $235.26 in the preceding trading session. EOS decreases 2.55% to trade around $0.667.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Litecoin has fallen back around 23.87% over the past 3 months, from a notable high of $102.04. Litecoin is currently trading with a market cap of 5.60 billion with an average daily volume of 558.62 million.