LTC has been up for five days in a row, gaining $0.651 to reach $96.

After ending the previous trading day at $95.35, Litecoin went up to $97.15 only to drop back; still positive overall today, now trading at $96.

Litecoin could be slowing down soon as it approaches resistance at $97.61. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw LTC dropping below its 3 day Simple Moving Average at $93.37 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $97.86, thereby suggesting that LTC is becoming overvalued. On the other hand, note that price action overcame a known Fibonacci resistance level at $95.56 by around $0.44 with prices hammering out a $94.39 – $97.15 session range.

Technical analysis suggests there could be an imminent reversal for LTC.

LTC shows positive signs, other assets are also on par: FTX Token is up 9.54%.

At the same time, TRON is down to $0.082, losing $0.001, after closing at $0.083 in the preceding trading session. Ripple is down to $0.519, losing $0.005, after closing at $0.524 in the preceding trading session.

Litecoin has managed to gain 36.67% so far this year despite trading at lows around $43.3 previously. Litecoin has a market cap of 7 billion with an average daily volume of 556.30 million.