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February 28, 2023
LTC posts light gains on a low-volatility day, ranging between $93.39 – $95.44 and is now at $95.35.
A study of LTC's chart reveals various key levels to watch: Litecoin price action is currently oscillating around the $94.42 resistance level with prices moving above and below several times during the session. Trend analysis indicates that LTC made an initial breakout above its 10 day Simple Moving Average at $94.79, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that LTC's upper Bollinger Band® is at $101.49, this is a slight indication of a slowdown.
Overall, while LTC has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as FTX Token added 9.54% to its value, now trading at $1.36. EOS increases 4.28% to trade around $1.18.
Meanwhile, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 32.52% year to date. LTC is currently trading with a market cap of 6.90 billion with an average daily volume of 487.59 million.
