Litecoin cryptocurrency trades up $0.662, approximately 0.72% higher going into tomorrow

Litecoin posts light gains on a low-volatility day, ranging between $91.29 – $92.53 and is now at $92.29.

Litecoin's lower Bollinger Band® is at $88.77, indicating that the market is oversold and fertile for new buyers. Despite this, LTC could be slowing down soon; it is getting close to the resistance line and is now at $91.86, only 44 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts LTC to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Litecoin is expected to pick up significant bullish sentiment in the coming days.

Other markets are also showing gains as FTX Token rallies 9.54% to trade around $1.36.

Meanwhile, Solana closed at $22.02 (down 4.61%). Tezos USD closed at $1.18 (down 4.55%).

LTC has managed to gain 29.06% so far this year despite trading at lows around $43.3 previously. Litecoin is currently trading with a market cap of 6.68 billion with an average daily volume of 437 million.