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May 19, 2023Tentatively higher from an earlier low of $90.44, LTC is up to $92.7 today, adding $2.25, or 2.49%, to today's closing price of $90.44.
Litecoin made an initial breakout above its 3 day Simple Moving Average at $92.97, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $91.65 by around $1.04 with prices hammering out a $90.44 – $92.85 session range. In contrast, LTC's upper Bollinger Band® is at $95.1, this is a slight indication of a slowdown. LTC is 44 cents away from testing key resistance at $93.14. Peaking above this level could inspire market bulls and open the path to further gains.
According to technical analysis, it looks as if LTC likely to continue pointing upward in the short term.
Other markets are also showing gains as FTX Token surges 9.54% to trade around $1.36. Ripple moves up 1.12% to trade around $0.466.
At the same time, UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43.
The past 6 months have been positive for LTC as it appreciated 44.81%, having traded as low as $43.3. Litecoin has a market cap of 6.76 billion with an average daily volume of 522.69 million.
