Litecoin (LTC) Price Near $55.03; Breaks Above 20, 50, 100 and 200 Day Averages, Price Base in Formation Over Past 14 Days, Makes Big Move Relative to Past Month

October 22, 2020 Editor Litecoin 0

The Hourly View for LTC

Last Updated October 22, 2020, 01:036 GMT

At the moment, LTC’s price is up $0.45 (0.82%) 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 53.14 US dollars, up 13.23% ($6.21) from the day prior. As for how volume fared, yesterday’s volume was up 377.89% from the previous day (Tuesday), and up 470.02% from Wednesday of the week before. Litecoin outperformed all 7 assets in the Top Cryptos asset class since the day prior. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

First things first: Litecoin crossed above its 20, 50, 100 and 200 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. Also of note is that on a 14 day basis 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 18 of the previous 30 trading days.

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 DaddyCool1991:

    PayPal
    Grayscale Litecoin Trust
    #LTC debit card
    Litebringer blockchain game
    MWEB (Mimblewimble + Extension Blocks)
    AtariMore to come…At the start of the year, I said #Litecoin was going to rip your face off in 2020.Who’s laughing now?

  • From ScottyD97155633:

    @ROYALMRBADNEWS @MishelleO1974 @TJque1 @litecoin_bull @ccunningham821 @Michele17934584 @RealJamesWoods @realDonaldTrump @POTUS 3 – That being said…for some reason in the last 2-3 years he has changed. He has backtracked on many topics. He has argued agaisnt Trump many times. Something is wrong. He is not the same Alex Jones. Either he is controlled now or he is playing some role maybe even for POTUS.

  • From DaddyCool1991:

    I hardly ever swear, but PayPal just helped #Litecoin give all the doubters a big, fat f*uck you.May delete this tweet later (or pin it, not sure yet).