The Hourly View for LTC

Last Updated December 24, 2020, 15:16 GMT

Currently, Litecoin’s price is down $-0.08 (-0.07%) from the hour prior. This is the 2nd straight hour Litecoin has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Litecoin. 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 back and forth price flow continues for Litecoin, which started today off at 102.39 US dollars, down 10.54% ($12.06) from the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 31.75% from the day prior, and up 96.15% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Litecoin.

Litecoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14, 90 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

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 XrpJackson:

    SEC didn’t go after Charlie Lee for dumping all his Litecoin in the 2018 bull run for $275 mill?WHY?
    @bgarlinghouse @chrislarsensf @JoelKatz #xrp

  • From linkchainlink:

    Sorry for getting greedy and trying to retire before 2021 @SergeyNazarov Send it now lad, my GFs husband bought Litecoin and he’s flexing his gains on me

  • From BFrownfelterND:

    @Adbb037 @CodeMonkeyZ @realDonaldTrump @ljcambria @litecoin_bull @RockinRon904LIF @Wick_UK SES agents for the crown, CFR agents for the crown, SERCO agent for the crown, et alHidden secrets … & it was Great Britain that created Saudi Arabia, & the ‘state’ of Israel … so did Israel really become a country again by GOD, or is it a counterfeit w/ counterfeit jews?

(Excerpt) Read more Here | 2020-12-23 19:47:00
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