The Hourly View for LTC
Last Updated October 17, 2020, 03:015 GMT
At the moment, LTC’s price is down $-0.04 (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 3 Price action traders may also wish to note that we see a doji 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
Litecoin came into today down 3.88% ($1.92) from the open of the previous day, marking the 4th day in a row a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 77.6% from the day prior, and up 98.72% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 6th 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
First things first: Litecoin crossed below its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.