Litecoin cryptocurrency trades up $3.72, approximately 4.45% higher this afternoon

Tentatively higher from an earlier low of $82.6, Litecoin is up to $87.36 today, adding $3.72, or 4.45%, to today's closing price of $83.64.

Litecoin broke through the $84.16 resistance and climbed above it $3.2; next resistance level is at $85.86. LTC made an initial breakout above its 21 day Simple Moving Average at $85.5, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $82.6 to $87.54, Fibonacci-inclined Litecoin traders were highly concentrated around active Fibonacci resistance at $85.34. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $93, thereby suggesting that Litecoin is becoming overvalued.

According to technical analysis, it looks as if LTC likely to continue pointing upward in the short term.

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. Bitcoin is up 1.87% to $27,444. Bitcoin Cash added 2.11% to its value, now trading at $117.82.

Having set a significant high of $102.04 2 months ago, LTC is trading 18.03% lower. LTC has a market cap of 6.37 billion with an average daily volume of 488.13 million.