Litecoin (LTC) Closes Prior Hour Up 0.61%; Price Base in Formation Over Past 90 Days, 2 Day Up Streak Ended, Pin Bar Pattern Appearing on Chart

The Hourly View for LTC

Last Updated October 2, 2020, 01:038 GMT

Currently, LTC’s price is up $0.28 (0.61%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being above it. 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

The back and forth price flow continues for Litecoin, which started today off at 46.26 US dollars, down 0% ($0) from the previous day. As for how volume fared, yesterday’s volume was up 128.92% from the previous day (Wednesday), and up 123.73% from Thursday of the week before. On a relative basis, the previous day was pretty good: Litecoin bested all 7 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

The first thing we should note is that Litecoin is now close to its 20 and 200 day averages, located at 46.72 and 46.81 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 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 16 of the previous 30 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

  • From MASTERBTCLTC:

    Litecoin MimbleWimble Testnet launches tonight. @DavidBurkett38 will spend the rest of the evening documenting everything and seeing if he can get an automated build of litecoin w/ libmw. more nodes will be added to the network [email protected]
    Pompletter?

  • From BoilingPointLLC:

    So how bout it @litebringergame, a custom special edition #Warlock Chikun character for the game. Limited to 84, they can be found on quests. it’ll be like hitting the lottery. Lets bring the game and the #cryptocurrency together on this one. #Litecoin

  • From lite_hause:

    Litecoin is en route to becoming the soundest cryptocurrency. From @SatoshiLite’s MIT keynote in ‘15, money should ideally be•Divisible ☑️
    •Transportable ☑️
    •Scarce ☑️
    •Durable ☑️
    •Non-consumable ☑️#MWEB will now help Litecoin achieve the last objective—Fungibility. ☑️