Mixed sentiment leads Litecoin cryptocurrency to trade sideways; establishes tight $83.34 to $84.14 range

Without a clear-cut direction, Litecoin is trading around $83.77 and ranging between $83.34 and $84.14.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that LTC's upper Bollinger Band® is at $92.38 and the lower is $83.54. A study of LTC's historical price actions shows LTC is approaching key support, around $2.56 away from $81.21. 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.

Overall, the technical outlook suggests Litecoin is likely to remain muted for the immediate future, with no clear-cut direction.

While LTC is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

LTC has fallen back around 18% from the significant high of $102.04 set 2 months ago. LTC is currently trading with a market cap of 6.10 billion with an average daily volume of 552.37 million.