LTC sheds $0.657 to trade around $87.75

After closing at $88.41 today, LTC opened today at $88.41, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, LTC retains a distinct $87.42 to $88.64 daily range.

Technical analysis of LTC's past price action reveals multiple support and resistance levels: Litecoin could begin to recover as it approaches significant support, now $1.12 away from $86.63. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that LTC made an initial break below its 50 day Simple Moving Average at $88.32, a possible indication of a forthcoming negative trend. According to asset volatility analysis, LTC's lower Bollinger Band® is at $82.96, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

All in all, the technical analysis suggests LTC has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. MaticNetwork USD retreats 2.65% to trade around $0.963.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.

LTC has appreciated 66.91% over the past six months. LTC is currently trading with a market cap of 6.39 billion with an average daily volume of 556.59 million.