Litecoin is down by $2.16 (-2.43%); currently trading around $86.68

LTC is range-bound between $86.62 and $89.25 today after shedding $2.16 and closing at $88.83 today.

Despite being in the red so far in the current trading session, Litecoin peaked above its 10 day Simple Moving Average around $88.64 — typically an early indicator of a new bullish trend beginning to emerge. Litecoin's lower Bollinger Band® is at $82.69, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. LTC could begin to recover as it approaches significant support, now 71 cents away from $87.38. Dipping below could be an indication that further losses are ahead.

Technical analysis shows that LTC (currently on a downtrend) might reverse course and start going up in the short term.

In the meantime, negative performances are also seen in other markets, Dogecoin closed at $0.078 (down 2.61%). Ethereum is down $54.43 from the beginning of the session and now trades around $1,943.24.

Other assets are showing positive performances as FTX Token surges 9.54% to trade around $1.36.

LTC is now trading 12.94% below the significant high of $102.04 it set around 2 months ago. LTC has a market cap of 6.32 billion with an average daily volume of 542.97 million.