Mixed sentiment leads LTC cryptocurrency to trade sideways; establishes tight $106.05 to $109.04 range

A mostly flat day so far for Litecoin, ranging between $106.05 and $109.04; currently at $107.04.

Support/Resistance levels obtained from chart analysis indicate that Litecoin is approaching key support, around $3.56 away from $103.48. 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 and momentum analysis indicates that LTC made an initial break below its 5 day Simple Moving Average at $104.52, a possible indication of a forthcoming negative trend.

All in all, the technical analysis suggests LTC has no clear-cut direction.

While Litecoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. Bitcoin Cash closed at $282.34 (down 2.78%). EOS goes down 1.89% to trade around $0.753.

Approximately 3 days ago, Litecoin reached a significant high of $113.62 but has struggled to hold onto its gains and declined 5.91% since then. Litecoin has a market cap of 7.84 billion with an average daily volume of 786.24 million.