The Hourly View for LTC
Last Updated December 16, 2020, 05:016 GMT
At the moment, LTC’s price is up $0.31 (0.39%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 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
Litecoin is down 1.2% ($0.99) since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. The price move occurred on volume that was up 27.45% from the day prior, but down 3.42% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 5th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Litecoin.
Litecoin Technical Analysis
The first thing we should note is that Litecoin is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 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 5 of the previous 10 trading days.