The Hourly View for LTC
Last Updated October 2, 2020, 07:015 GMT
At the time of this writing, LTC’s price is down $-0.07 (-0.15%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 1 Price action traders may also wish to note that we see a doji candlestick pattern on LTC. Given that we see downtrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Litecoin Daily Price Recap
Litecoin entered today at $46.26, down 0% ($0) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 128.92% from the day prior, and up 123.73% from the same day the week before. Litecoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. The daily price chart of Litecoin below illustrates.
Litecoin Technical Analysis
Coming into today Litecoin is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. 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 a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Litecoin’s price has gone up 16 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From MASTERBTCLTC:
Litecoin MimbleWimble Testnet launches tonight. @DavidBurkett38 will spend the rest of the evening documenting everything and seeing if he can get an automated build of litecoin w/ libmw. more nodes will be added to the network tomorrow@APompliano
Pompletter? - From lite_hause:
Litecoin is en route to becoming the soundest cryptocurrency. From @SatoshiLite’s MIT keynote in ‘15, money should ideally be•Divisible ☑️
•Transportable ☑️
•Scarce ☑️
•Durable ☑️
•Non-consumable ☑️#MWEB will now help Litecoin achieve the last objective—Fungibility. ☑️ - From BoilingPointLLC:
So how bout it @litebringergame, a custom special edition #Warlock Chikun character for the game. Limited to 84, they can be found on quests. it’ll be like hitting the lottery. Lets bring the game and the #cryptocurrency together on this one. #Litecoin
