Bearish LTC currently $0.605 lower after trading as high as $91.39

LTC slides down from $90.91 to $90.3 today, losing $0.605 (0.67%).

Litecoin made an initial break below its 21 day Simple Moving Average at $89.65, a possible indication of a forthcoming negative trend. Litecoin is currently flirting with an active Fibonacci support level around $90.69. Despite this, LTC reversed direction at $90.14 support zone and climbed 16 cents above it.

Overall, the technical analysis landscape suggests that on the balance of probability, Litecoin is expected to maintain its bearish bias.

In the meantime, negative performances are also seen in other markets, Dogecoin is down to $0.082, losing $0.003, after closing at $0.085 in the preceding trading session. Tezos USD is down to $1.09, losing $0.041, after closing at $1.14 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is now trading at $1.36.

This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 28.74% year to date. Litecoin has a market cap of 6.56 billion with an average daily volume of 600.19 million.