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June 24, 2023
After ending the previous trading day at $91.13, Litecoin went up to $93.16 only to drop back; still positive overall today, now trading at $92.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Litecoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that LTC's upper Bollinger Band® is at $95.59, this is a slight indication of a slowdown. Chart analysis suggests Litecoin could be slowing down soon as it approaches resistance at $94.07. Of course, crossing it might suggest further gains are ahead.
Notwithstanding LTC's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as FTX Token rallies 9.54% to trade around $1.36. Bitcoin Cash added 5.38% to its value, now trading at $190.88. Binance Coin is up 1.42% to $247.69.
The past 6 months have been positive for LTC as it appreciated 39.95%, having traded as low as $47.28. LTC has a market cap of 6.74 billion with an average daily volume of 518.82 million.
