Mixed sentiment leads LTC cryptocurrency to trade sideways; establishes tight $91.72 to $94.86 range

LTC closed out today at $92.43. Today, it reached highs around $94.86 before dropping back to $92.24.

Litecoin made an initial break below its 5 day Simple Moving Average at $92.87, a possible indication of a forthcoming negative trend. Litecoin's upper Bollinger Band® is at $98.21, suggesting that a downward move may follow. In contrast, LTC bounced after reaching the $91.34 support zone, climbing 90 cents above it.

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 having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Dogecoin is down to $0.093, losing $0.002, after closing at $0.095 in the preceding trading session. Ethereum is up 2.08%.

This year has been a bright one for LTC after trading as low as $43.3 and going on to appreciate by 31.37% year to date. Litecoin has a market cap of 6.70 billion with an average daily volume of 606.83 million.