Bearish LTC currently $2.73 lower after trading as high as $91.1

LTC slides down from $90.73 to $88 today, losing $2.73 (3.02%).

Technical analysis of Litecoin's past price action reveals multiple support and resistance levels: Litecoin could begin to recover as it approaches significant support, now 49 cents away from $87.5. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that LTC made an initial break below its 50 day Simple Moving Average at $88.42, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $87.75 currently serving as support. If price action breaks below, the next Fib hurdle is $85.85. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $85.24, a low enough level to, generally, suggest that Litecoin is trading below its fair value.

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, Binance Coin is down $22.1 from the beginning of the session and now trades around $258.9. Cardano is down to $0.324, losing $0.028, after closing at $0.352 in the preceding trading session.

Other assets are showing positive performances as FTX Token added 9.54% to its value, now trading at $1.36.

Litecoin hit a significant low of $43.3 around 11 months ago, but has since recovered 109.53%. Litecoin has a market cap of 6.43 billion with an average daily volume of 555.57 million.