Litecoin is down by $1.32 (-1.6%); currently trading around $82

Struggling to find upward momentum, Litecoin has shed $1.32 to currently trade at $82 as it ranges between $81.48 and $84.83 so far today.

The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at $82.61 suggests further losses may follow for Litecoin.

Looking forward, LTC is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, Ripple is down $0.013 from the beginning of the session and now trades around $0.436. Algorand USD decreases 3.84% to trade around $0.167.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Litecoin is now trading 18.35% below the significant high of $102.04 it set around 2 months ago. LTC is currently trading with a market cap of 5.97 billion with an average daily volume of 531.95 million.