LTC set for weak finish today; down 7.11% to $87.42 with 3 hours before close

LTC slides down from $94.11 to $87.42 today, losing $6.69 (7.11%).

Trend and momentum analysis indicates that Litecoin made an initial break below its 200 day Simple Moving Average at $85.17, a possible indication of a forthcoming negative trend. LTC formed a session range of $85.19 to $94.48 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $93.61. Analysis based on the asset volatility indicates that Litecoin's lower Bollinger Band® is at $85.28, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Following today's trading session, chart analysis suggests Litecoin is currently alternating around $92.57 with price action moving above and below this key level throughout the session.

With market volatility ebbing, the current technical outlook indicates LTC will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, Binance Coin drops 9.12% to trade around $276.92. After ending today's session at $0.911, EOS lost $0.075 and is trading around $0.836. Dogecoin closed at $0.067 (down 7.95%).

LTC has managed to gain 35.96% so far this year despite trading at lows around $43.3 previously. LTC is currently trading with a market cap of 6.39 billion with an average daily volume of 556.75 million.