Litecoin (LTC) Closes Last Hour Down $-0.05; Makes Big Move Relative to Two Week Trend, 2 Day Down Streak Snapped

The Hourly View for LTC

Last Updated October 8, 2020, 11:15 GMT

At the moment, LTC’s price is down $-0.05 (-0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 1 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

46.61 (USD) was the opening price of the day for Litecoin, resulting in the day prior being one in which price moved up 1.3% ($0.6) from the day prior. This move happened on lower volume, as yesterday’s volume was down 47.56% from the day before — and down 5.39% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to the day prior. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

The first thing we should note is that Litecoin is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. Volatility for Litecoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 16 out of the past 30 days.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:


    @22Bucky @GinglesKelley @Bernice17_Q @litecoin_bull @loves_kasmir @l1m3ds17 @trumpnut45 @quen43 @cjtruth You mean cj UNtruth who recently became friends with the pedophiles dragons?The same dragons who we exposed?The same dragons who in recent days have been exposed for pedophilia?That cj UNtruth who recently became friends with the pedophiles dragons?

  • From MillaLiraj:

    What’s happening in #Litecoin lately:-A new Visa card.
    -Grayscale added Litecoin trust to its line.
    -The hash rate increased 50%, as of August.
    -Transactions doubled this year through August.
    -The number of LTC addresses has skyrocketed 400% in the last three years.$LTC


    @TheUniversalmnd @Ocatnip5Y @litecoin_bull @Marbleslite @ZetaTalk Body doubles are human actors.Human actors who will be put down when their usefulness ends.And as for clones the same ending along with the fact clones have shorter life span.

As for a news story related to Litecoin getting some buzz:

Litecoin Launches MimbleWimble Testnet Advancing Scaling and Privacy

Litecoin’s scaling and privacy protocol, MimbleWimble, has recently been launched to testnet as the team moves closer to their ambition of creating a scalable but private blockchain….That has changed with the recent launch of the MimbleWimble (MW) testnet.