Is it the end of Litecoin's rally? After five days of gains, it is down by 0.8% today

LTC is grinding lower from $93.88 to $93.13, shedding $0.748 (0.8%) today.

Litecoin made an initial break below its 3 day Simple Moving Average at $92.97, a possible indication of a forthcoming negative trend. Litecoin is currently flirting with an active Fibonacci support level around $93.61. LTC's upper Bollinger Band® is at $95.74 which indicates a further downward move may follow. On the other hand, note that LTC could begin to recover as it approaches significant support, now $1.84 away from $91.29. Dipping below could be an indication that further losses are ahead.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Litecoin.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD draws back 2.98% to trade around $6.43. Dogecoin slides down 0.91% to trade around $0.074.

Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36.

Litecoin has appreciated 51.7% over the past six months. LTC is currently trading with a market cap of 6.79 billion with an average daily volume of 522.44 million.