| 
May 16, 2023Tentatively higher from an earlier low of $86.44, LTC is up to $89.64 today, adding $2.52, or 2.9%, to today's closing price of $87.12.
Trend-following investors would be interested to note that Litecoin made an initial breakout above its 50 day Simple Moving Average at $89.35, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Litecoin's upper Bollinger Band® is at $93.28, this is a slight indication of a slowdown. Visual analysis of LTC's chart shows that Litecoin broke through the $89.92 resistance, climbing 28 cents above it.
Notwithstanding Litecoin's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
At the same time, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. Ripple is down to $0.422, losing $0.006, after closing at $0.428 in the preceding trading session.
Approximately 2 months ago, LTC reached a significant high of $102.04 but has struggled to hold onto its gains and declined 14.62% since then. Litecoin has a market cap of 6.54 billion with an average daily volume of 501 million.
