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February 27, 2023
After dropping down to $94, LTC recovers some losses and is currently trading at $94.9.
Litecoin made an initial breakout above its 21 day Simple Moving Average at $95.76, a potential indicator of a newly emerging bullish phase. Litecoin's upper Bollinger Band® is at $101.95 and the lower is $88.96. Litecoin is approaching key support, around 61 cents away from $94.29. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite muted price action in LTC, chart analysis indicates it is positioned for a bullish run in the short term.
While LTC is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43. Binance Coin is down to $304.61, losing $3.95, after closing at $308.56 in the preceding trading session.
LTC has gained 33.18% since its lowest print of $43.3 earlier this year. LTC is currently trading with a market cap of 6.87 billion with an average daily volume of 470.27 million.
