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June 09, 2023Small gain for LTC at $89.35 after ranging between $87.42 and $89.35 today.
Support/Resistance levels obtained from chart analysis indicate that Litecoin could be slowing down soon as it approaches resistance at $89.52. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that despite posting gains so far today, Litecoin slid below its 50 day Simple Moving Average at $88.36 in earlier trade — an early indicator that a negative trend could be emerging. According to asset volatility analysis, Litecoin's lower Bollinger Band® is at $84.83, indicating that the market is oversold and fertile for new buyers.
With market volatility ebbing, the current technical outlook indicates Litecoin will remain range-bound for the immediate future.
Litecoin shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Dogecoin added 2.37% to its value, now trading at $0.07. TRON gained 0.93% and is currently trading at $0.078.
LTC now trading 15.56% above its 3-month low of $43.3. LTC has a market cap of 6.53 billion with an average daily volume of 521.71 million.
