The Hourly View for LTC
Last Updated May 25, 2021, 02:045 GMT
Currently, LTC’s price is down $-3.1 (-1.67%) from the hour prior. This is the 2nd hour in a row LTC has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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’s 3 day negative streak has officially concluded, as the candle from the previous day closed up 29.71% ($42.41). This move happened on lower volume, as yesterday’s volume was down 4.49% from the day before — and down 19.71% 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 previous day. Below is a daily price chart of Litecoin.
Litecoin Technical Analysis
First things first: Litecoin crossed above its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone down 7 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 14 and 90 day time periods.