Losing streak continues: Litecoin down $1.32 to $85.08 adding to its four days of losses

LTC slides down from $86.4 to $85.08 today, losing $1.32 (1.52%).

Trend analysis indicates that 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. Analysis based on the asset volatility indicates that LTC's lower Bollinger Band® is at $84.46, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of LTC's chart reveals various key levels to watch: although LTC is pointing down today (was as low as $84.83), it's climbing away from the $83.94 support line and is now $1.14 above it.

All in all, the technical analysis suggests LTC has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Solana closed at $19.35 (down 4.6%). Tezos USD is down to $1.07, losing $0.044, after closing at $1.11 in the preceding trading session.

Other assets are showing positive performances as FTX Token gained 9.54% and is currently trading at $1.36.

LTC has gained 20% since its lowest print of $43.3 earlier this year. Litecoin is currently trading with a market cap of 6.16 billion with an average daily volume of 523.19 million.