Litecoin (LTC) Closes Prior Hour Up 2.32%; Makes Big Move Relative to Two Week Trend, in an Uptrend Over Past 90 Days, Price Base in Formation Over Past 14 and 30 Days

December 17, 2020 Editor Litecoin 0

The Hourly View for LTC

Last Updated December 17, 2020, 16:17 GMT

At the moment, LTC’s price is up $2.47 (2.32%) from the hour prior. LTC has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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

93.1 (USD) was the opening price of the day for Litecoin, resulting in the day prior being one in which price moved up 14.42% ($11.73) from the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 132.85% from the day prior, and up 110.24% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 3rd for the day in terms of price change relative to the day prior. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Litecoin:

  • From hyper_cubist:

    1/ It seems like there is a psyop going on with $LINK. Since when does a crypto project with a market capitalization smaller than Litecoin write whitepapers with the World Economic Forum @wef? Still, there is continuous dumping, even at historic lows.

  • From lite_hause:

    Litecoin is on track to activate MWEB in 2021.Litecoin activated SegWit on 5/10/2017, 4 years prior.They say crypto markets move in 4 year intervals. Interestingly enough, it seems that so do major Litecoin upgrades.Coincidence or precisely planned? 🤭

  • From MASTERBTCLTC:

    @f7ee5465 @BTC_JackSparrow Litecoin is digital silver
    ☑️ 4x faster blocks
    ☑️ digital silver
    ☑️ 84M
    ☑️ 9+ yrs
    ☑️ no premine
    ☑️ POW
    ☑️ King of Scrypt
    ☑️ No satoshi stash
    ☑️ Segwit
    ☑️ #1 alt on ATMs
    ☑️ BTC twin
    ☑️ 4Y halvings
    ☑️ Oscillator
    ☑️ PayPal Venmo
    ☑️ Atomic swaps
    ☑️ ⚡️
    ☑️ MWEB
    ☑️ 100% uptime