Litecoin (LTC) Price Near $49.61; Moves Up For the 5th Straight Day, in an Uptrend Over Past 14 Days, Crosses 50 Day Moving Average

The Hourly View for LTC

Last Updated October 12, 2020, 11:15 GMT

At the moment, LTC’s price is down $-0.13 (-0.26%) from the hour prior. LTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 3 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

Litecoin is up 3.33% ($1.63) since yesterday, marking the 5th straight day an increase has occurred. The price move occurred on volume that was down 23.39% from the day prior, but up 84.95% from the same day the week before. On a relative basis, yesterday was pretty good: Litecoin bested all 7 of the assets in the Top Cryptos class 🙂 The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Litecoin crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.