Mixed sentiment leads LTC cryptocurrency to trade sideways; establishes tight $87.46 to $89.41 range

Without a clear-cut direction, LTC is trading around $88.67 and ranging between $87.46 and $89.41.

Trend-following investors would be interested to note that Litecoin made an initial break below its 50 day Simple Moving Average at $88.42, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $87.75 currently serving as support. If price action breaks below, the next Fib hurdle is $85.85. Asset volatility analysis shows that Litecoin's upper Bollinger Band® is at $96.31 and the lower is $85.03. A study of LTC's chart reveals various key levels to watch: LTC is oscillating around the $87.58 level serving as support.

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

At the same time, 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. EOS is up 3.59%. Binance Coin is up 2.55%.

LTC hit a significant low of $43.3 around 11 months ago, but has since recovered 105.12%. LTC is currently trading with a market cap of 6.48 billion with an average daily volume of 532.90 million.