LTC cryptocurrency trades up $0.603, approximately 0.69% higher this afternoon

Litecoin trades at $87.83 after gaining $0.603 (0.69%).

With regards to technical trend indicators, chart analysis show that Litecoin made an initial breakout above its 5 day Simple Moving Average at $87.71, a potential indicator of a newly emerging bullish phase. Analysis of Litecoin's recent price action suggests LTC reversed direction at $88.51 resistance zone and retreated back 68 cents below it.

With market volatility ebbing, the current technical outlook indicates LTC will remain range-bound for the immediate future.

3 months ago Litecoin reached a significant high of $102.04 but has consequently lost 14.52% since then. Litecoin is currently trading with a market cap of 6.41 billion with an average daily volume of 555.46 million.