Litecoin set for weak finish today; down 1.35% to $98.88 with a hour before close

As the current session draws to a close, LTC remains in the $98.03 – $100.3 range after dropping 1.35%.

Litecoin made an initial break below its 3 day Simple Moving Average at $96.3, a possible indication of a forthcoming negative trend. Litecoin's upper Bollinger Band® is at $100.17 which indicates a further downward move may follow. In contrast, LTC could begin to recover as it approaches significant support, now $1.28 away from $97.6. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for LTC.

In the meantime, negative performances are also seen in other markets, Algorand USD slips 5.54% to trade around $0.222. Bitcoin closed at $29,531 (down 2.57%).

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.

Litecoin has gained 43.36% since its lowest print of $43.3 earlier this year. LTC has a market cap of 7.19 billion with an average daily volume of 539.22 million.