Litecoin is down $1.42 (1.45%), trading around $96.43

LTC drops from $97.85 to $96.43, losing $1.42 (1.45%) today.

Litecoin's upper Bollinger Band® is at $101.78 which indicates a further downward move may follow. Despite this, Litecoin could begin to recover as it approaches significant support, now 24 cents away from $96.67. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts LTC to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the LTC is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, Tezos USD closed at $1.15 (down 4.19%). After ending today's session at $1.21, EOS lost $0.036 and is trading around $1.17.

Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36.

This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 36.71% year to date. LTC has a market cap of 6.98 billion with an average daily volume of 525.47 million.