Litecoin cryptocurrency trades up $0.621, approximately 0.67% higher this afternoon

LTC trades at $93.82 after gaining $0.621 (0.67%).

Litecoin made an initial breakout above its 5 day Simple Moving Average at $93.49, a potential indicator of a newly emerging bullish phase. A Morning Star, which is a bullish visual pattern consisting of three candlesticks. The pattern forms following a downward trend and tends to indicate a reversal before the start of a new upward climb. Having stamped out a session range of $92.92 to $94.22, Fibonacci-inclined Litecoin traders were highly concentrated around active Fibonacci resistance at $93.59. LTC's lower Bollinger Band® is at $88.78, indicating that the market is oversold and fertile for new buyers. Despite this, Litecoin price action is currently oscillating around the $93.94 resistance level with prices moving above and below several times during the session.

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 LTC is expected to pick up significant bullish sentiment in the coming days.

Litecoin shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Having closed the previous session at $0.068, TRON is up 1.81% today to currently trade at around $0.069.

Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%).

LTC has managed to gain 32.28% so far this year despite trading at lows around $43.3 previously. Litecoin is currently trading with a market cap of 6.79 billion with an average daily volume of 454.74 million.