LTC crashes $11.93 following previous session close at $89.27

Litecoin is range-bound between $76.1 and $89.27 today after shedding $11.93 and closing at $89.27 today.

Litecoin made an initial break below its 200 day Simple Moving Average at $85.65, a possible indication of a forthcoming negative trend. Price action pushed below a known Fibonacci support level at $88.89 by around $11.56 with prices hammering out a $76.1 – $89.27 range by session close. LTC has just crossed the lower Bollinger Band® at $81.82, indicating further losses could be forthcoming. Litecoin pushed below the $87.91 support level and extended $10.57 beyond it.

In the short term, LTC is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.295, Cardano lost $0.052 and is trading around $0.243. Dogecoin is down to $0.06, losing $0.01, after closing at $0.07 in the preceding trading session. Solana closed at $14.86 (down 14.48%).

Litecoin now trading 24.74% above its 3-month low of $43.3. LTC has a market cap of 5.65 billion with an average daily volume of 512.50 million.