LTC cryptocurrency trades up $0.946, approximately 1.22% higher this afternoon

LTC posts light gains on a low-volatility day, ranging between $77 – $78.44 and is now at $78.44.

Litecoin made an initial breakout above its 3 day Simple Moving Average at $78.07, a potential indicator of a newly emerging bullish phase. LTC's lower Bollinger Band® is at $74.87, indicating that the market is oversold and fertile for new buyers. In contrast, Litecoin price action is currently oscillating around the $77.73 resistance level with prices moving above and below several times during the session.

LTC continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36. TRON gained 1.54% and is now trading at $0.072. Tezos USD is up 2.36%.

Litecoin reached a significant high of $102.04 around 3 months ago but has lost 24.06% since then. LTC has a market cap of 5.74 billion with an average daily volume of 561.19 million.