Mixed sentiment leads LTC cryptocurrency to trade sideways; establishes tight $87.79 to $88.96 range

Without a clear-cut direction, Litecoin is trading around $88.03 and ranging between $87.79 and $88.96.

Litecoin made an initial breakout above its 10 day Simple Moving Average at $88.71, a potential indicator of a newly emerging bullish phase. LTC is approaching key support, around 72 cents away from $87.32. 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 muted price action in LTC, chart analysis indicates it is positioned for a bullish run in the short term.

While Litecoin is pretty flat so far today, 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. UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43. TRON is up 0.76%.

2 months ago LTC reached a significant high of $102.04 but has consequently lost 13.3% since then. LTC is currently trading with a market cap of 6.41 billion with an average daily volume of 567.36 million.