End of rally? After five days of gains, LTC is down $1.8 today

Litecoin is down to $98.43, after ending today at $100.23. Overall, a 1.79% loss or $1.8 today.

Trend and momentum analysis indicates that investors are seeking long positions as Litecoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Litecoin's upper Bollinger Band® is at $100.38 which indicates a further downward move may follow. As the day gets underway, chart analysis suggests LTC could begin to recover as it approaches significant support, now $1.11 away from $97.31. Dipping below could be an indication that further losses are ahead.

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

In the meantime, negative performances are also seen in other markets, Dogecoin closed at $0.089 (down 1.8%). NEAR Protocol is trading around $2.25 (down $0.071).

Other assets are showing positive performances as FTX Token is up 9.54%.

Litecoin has managed to gain 43.36% so far this year despite trading at lows around $43.3 previously. LTC is currently trading with a market cap of 7.16 billion with an average daily volume of 528.85 million.