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June 15, 2023
A mostly flat day so far for LTC, ranging between $73.1 and $73.7; currently at $73.19.
As the trading day commences, technical analysis suggests Litecoin is approaching key support, around $1.71 away from $71.48. 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. Trend-following investors would be interested to note 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. Momentum evaluation shows that the Relative Strength Index indicates Litecoin is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that Litecoin's upper Bollinger Band® is at $102 and the lower is $70.
Overall, technical indicators suggest Litecoin has no obvious direction 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. Having closed the previous session at $0.726, Tezos USD is up 4.2% today to currently trade at around $0.757. TRON gained 0.63% and is currently trading at $0.071.
Litecoin has fallen back around 28.33% over the past 3 months, from a notable high of $102.04. LTC has a market cap of 5.35 billion with an average daily volume of 546.22 million.
