LTC cryptocurrency trades up $1.08, approximately 1.35% higher going into tomorrow

Litecoin posts light gains on a low-volatility day, ranging between $78.23 – $81.94 and is now at $81.1.

Litecoin made an initial breakout above its 200 day Simple Moving Average at $80.91, a potential indicator of a newly emerging bullish phase. LTC's lower Bollinger Band® is at $78.39, indicating that the market is oversold and fertile for new buyers. In contrast, LTC could be slowing down soon; it is getting close to the resistance line and is now at $82.83, only $1.72 away. Crossing the resistance line could, however, suggest that further gains are ahead.

According to technical analysis, it looks as if Litecoin likely to continue pointing upward in the short term.

Litecoin shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36. Having closed the previous session at $10.38, Cosmos USD is up 5.86% today to currently trade at around $11.

At the same time, after ending today's session at $121.98, Bitcoin Cash lost $6.26 and is trading around $115.72.

LTC reached a significant high of $102.04 around 2 months ago but has lost 21.57% since then. Litecoin is currently trading with a market cap of 5.91 billion with an average daily volume of 504.44 million.