Litecoin cryptocurrency trades up $3.21, approximately 3.41% higher this afternoon

Litecoin got off to a strong start by gaining $3.21 (+3.41%), only to run out of steam later in the session around $97.93. Currently, LTC is trading around the $97.19 level.

Chart analysis indicates after reaching the known resistance zone beginning at $97.22, Litecoin price action retreated approximately 3 cents. Concerning technical analysis and more specifically, trend indicators, LTC made an initial breakout above its 21 day Simple Moving Average at $95.67, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that LTC's upper Bollinger Band® is at $101.7, this is a slight indication of a slowdown.

Overall, while Litecoin has been on an uptrend, technical indicators suggest that it has no obvious direction 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. EOS climbs 3.88% to trade around $1.19. Cosmos USD is up 4.54%.

This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 37.19% year to date. LTC has a market cap of 7 billion with an average daily volume of 505.97 million.