The Hourly View for LTC
Last Updated October 3, 2020, 11:15 GMT
At the moment, LTC’s price is down $-0.02 (-0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as LTC has now gone up 4 of the past 5 hours. 2 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 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on LTC; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Litecoin Daily Price Recap
44.95 (USD) was the opening price of the day for Litecoin, resulting in the previous day being one in which price moved down 2.83% ($1.31) from the previous day. The price move occurred on volume that was down 32.51% from the day prior, but up 0.16% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since the previous day in terms of percentage price change. The daily price chart of Litecoin below illustrates.
Litecoin Technical Analysis
Notably, Litecoin is now close to its 20 and 200 day averages, located at 46.42 and 46.87 respectively, and thus may be at a key juncture along those timeframes. 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 additional context, note that price has gone up 7 out of the past 14 days. And for candlestick traders, a special treat: there is a evening star pattern showing up on the charts as well. Rejoice!
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- 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 johnkim77:
Because of that crazy ass asian @johnkim77, I’m buying the shit out of #Litecoin.To the moon….
- From HamelAnnemarie:
@litecoin_bull Blessings , wisdom , strength and a heart full of pure light drive ALL of us here on this feed ✨????☺️ STAY STRONG TO THE COURSE GOD HAS SET BEFORE US WE STAND BEHIND OUR POTUS AND FLOTUS ❤️❤️❤️LAW AND ORDER ⚔️?⚖️?