Tough start for Litecoin this morning following 0.97% decline; now at $94.43

LTC slides down from $95.35 to $94.43 today, losing $0.923 (0.97%).

Trend-following investors would be interested to note that investors are seeking long positions as Litecoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Litecoin's upper Bollinger Band® is at $96.54 which indicates a further downward move may follow. As the day gets underway, chart analysis suggests Litecoin could begin to recover as it approaches significant support, now 59 cents away from $93.84. Dipping below could be an indication that further losses are ahead.

Overall, while LTC has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.524, Ripple lost $0.003 and is trading around $0.522.

Other assets are showing positive performances as FTX Token is up 9.54%. UNICORN Token USD gained 1.62% and is currently trading at $6.47.

LTC has gained 34.12% since its lowest print of $43.3 earlier this year. Litecoin has a market cap of 6.90 billion with an average daily volume of 549 million.