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June 02, 2023
LTC posts light gains on a low-volatility day, ranging between $93.48 – $95.27 and is now at $95.04.
As the trading day commences, technical analysis suggests Litecoin could be slowing down soon; it is getting close to the resistance line and is now at $97.04, only $2 away. Crossing the resistance line could, however, suggest that further gains are ahead. Technical analysis trend indicators suggest that investors are seeking long positions as LTC price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, LTC's upper Bollinger Band® is at $96.31, this is a slight indication of a slowdown.
Overall, while Litecoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. Cardano is up 2.47% to $0.374.
At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).
Litecoin has gained 34.06% since its lowest print of $43.3 earlier this year. Litecoin is currently trading with a market cap of 6.94 billion with an average daily volume of 545.83 million.
