LTC set for weak finish today; down 2.69% to $88.63 with 3 hours before close

LTC is grinding lower from $91.08 to $88.63, shedding $2.45 (2.69%) today.

Litecoin made an initial break below its 50 day Simple Moving Average at $89.67, a possible indication of a forthcoming negative trend. Litecoin could begin to recover as it approaches significant support, now $1.09 away from $89.71. 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, EOS closed at $1 (down 2.39%).

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36. Binance Coin is up 3.82%.

The past 6 months have been positive for LTC as it appreciated 60%, having traded as low as $43.3. Litecoin has a market cap of 6.45 billion with an average daily volume of 584.73 million.