Bearish LTC currently $1.84 lower after trading as high as $88.27

Litecoin remains constrained within a $86.17 to $88.27 range and is currently trading around the $86.33 level.

Chart analysis suggests Litecoin could begin to recover as it approaches significant support, now 36 cents away from $86.69. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that LTC made an initial break below its 3 day Simple Moving Average at $86.96, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that LTC's lower Bollinger Band® is at $81.27, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

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

In the meantime, negative performances are also seen in other markets, Ripple closed at $0.453 (down 2.46%). Cardano closed at $0.381 (down 2.74%).

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.

Over the past 2 months, LTC has retreated 13.59% from a noteworthy peak of $102.04. LTC is currently trading with a market cap of 6.29 billion with an average daily volume of 575.68 million.