Litecoin stumbles $1.13 following previous session close at $90.28

Struggling to find upward momentum, LTC has shed $1.13 to currently trade at $89.15 as it ranges between $89.12 and $91.88 so far today.

Litecoin made an initial break below its 50 day Simple Moving Average at $88.91, a possible indication of a forthcoming negative trend. In contrast, Bollinger Bands® shows an indication of recovery: the lower band is at $87.29, a low enough level to, generally, suggest that LTC is trading below its fair value. LTC could begin to recover as it approaches significant support, now $2.1 away from $87.05. 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 Litecoin.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.088, Dogecoin lost $0.004 and is trading around $0.084. Ripple closed at $0.472 (down 4.08%).

Positive performances can be seen by looking at other markets as FTX Token added 9.54% to its value, now trading at $1.36.

The past 6 months have been positive for LTC as it appreciated 88.5%, having traded as low as $43.3. LTC is currently trading with a market cap of 6.49 billion with an average daily volume of 558.11 million.