Mixed sentiment leads Litecoin cryptocurrency to trade sideways; establishes tight $90.72 to $92.86 range

Without a clear-cut direction, LTC is trading around $90.92 and ranging between $90.72 and $92.86.

Trend analysis indicates that Litecoin made an initial breakout above its 5 day Simple Moving Average at $91.7, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, LTC's upper Bollinger Band® is at $96.85, suggesting that a downward move may follow. Following today's trading session, chart analysis suggests LTC is approaching key support, around 64 cents away from $90.28. 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.

Notwithstanding Litecoin's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Other markets show mixed performance as FTX Token soars 9.54% to trade around $1.36. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. Ethereum is up 1.8%.

LTC has gained 29.1% since its lowest print of $43.3 earlier this year. Litecoin is currently trading with a market cap of 6.64 billion with an average daily volume of 524.21 million.