Mixed sentiment leads LTC cryptocurrency to trade sideways; establishes tight $89.1 to $90.22 range

A mostly flat day so far for LTC, ranging between $89.1 and $90.22; currently at $89.85.

Litecoin made an initial break below its 3 day Simple Moving Average at $89.87, a possible indication of a forthcoming negative trend. Litecoin's upper Bollinger Band® is at $94.32, suggesting that a downward move may follow. Despite this, Litecoin is approaching key support, around $3.31 away from $86.55. 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 the market lacking direction, technical chart analysis strongly suggests LTC is positioned for a downward move in the near term.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. Bitcoin Cash is down to $207.36, losing $6.94, after closing at $214.31 in the preceding trading session. UNICORN Token USD goes up 7.62% to trade around $5.1.

The past 6 months have been positive for LTC as it appreciated 35.24%, having traded as low as $47.28. LTC has a market cap of 6.58 billion with an average daily volume of 496.48 million.