| 
June 23, 2023After closing at $86.15 today, Litecoin began today at $86.15 with significant bullish sentiment driving Litecoin's price action higher. So far today, price action has drawn out a distinct $85.79 to $86.83 range.
Litecoin could be slowing down soon as it approaches resistance at $87.88. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Litecoin dropping below its 200 day Simple Moving Average at $85.86 — an early indicator that a new downward trend could be emerging.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates LTC is set for a reversal in the coming days.
LTC shows positive signs, other assets are also on par: Bitcoin Cash is up 6.74%. FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $5.57, Chainlink USD is up 5.61% today to currently trade at around $5.88.
Approximately 4 months ago, LTC reached a significant high of $102.04 but has struggled to hold onto its gains and declined 15.58% since then. LTC has a market cap of 6.34 billion with an average daily volume of 513.58 million.
