LTC set for weak finish today; down 1.51% to $91.14 with 3 hours before close

Litecoin drops from $92.54 to $91.14, losing $1.4 (1.51%) today.

Litecoin made an initial break below its 10 day Simple Moving Average at $91.57, a possible indication of a forthcoming negative trend. Litecoin is currently flirting with an active Fibonacci support level around $90.69. On the other hand, note that LTC could begin to recover as it approaches significant support, now 20 cents away from $91.34. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems LTC is likely to start pointing downward in the short term.

In the meantime, negative performances are also seen in other markets, Cardano decreases 1.73% to trade around $0.385.

Positive performances can be seen by looking at other markets as FTX Token surges 9.54% to trade around $1.36. EOS ascends 3.54% to trade around $1.23.

This year has been a bright one for Litecoin after trading as low as $43.3 and going on to appreciate by 30.9% year to date. LTC is currently trading with a market cap of 6.62 billion with an average daily volume of 606.83 million.