The Hourly View for LTC

Last Updated October 3, 2020, 23:15 GMT

At the moment, LTC’s price is down $-0.02 (-0.04%) from the hour prior. The hourly chart shows that LTC has seen 2 straight down hours. 1 Price action traders may also wish to note that we see a pin bar candlestick pattern on LTC. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Litecoin Daily Price Recap

The choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 44.95 US dollars, down 2.83% ($1.31) since the day prior. The change in price came along side change in volume that was down 32.51% from previous day, but up 0.16% from the Friday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since the day prior in terms of percentage price change. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

Notably, the current price of Litecoin is sitting close to its 20 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Also of note is that on the 14 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Litecoin’s price has gone up 16 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing evening star pattern appearing here.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:

  • From dmcdcrypto:

    Hey @SatoshiLite I have a quick question for you (well 2), when you designed #Litecoin why the 1/4 ratio with #Bitcoin?Were you aware that in the UK 4 silver crowns held the same monetary value as 1 gold sovereign when used as money?Coincidence 🤔

  • From PlastiksurgeonE:

    @litecoin_bull Lynn DeRothchilds referred to that same phrase when HRC was running in ‘16——“To Get Her”.Funny how she’s now dropped TOTALLY out of sight??Guess MI went and got HER eh?? ☺️

  • From johnkim77:

    Because of that crazy ass asian @johnkim77, I’m buying the shit out of #Litecoin.To the moon….

(Excerpt) Read more Here | 2020-10-02 18:37:00
Image credit: source


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