The Hourly View for LTC

Last Updated December 16, 2020, 15:17 GMT

At the time of this writing, LTCs price is down $-0.3 (-0.34%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 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.

The end of a 3 day positive run has come for Litecoin, which finished the day prior down 1.2% ($0.99). The price move occurred on volume that was up 27.45% from the day prior, but down 3.42% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 5th for the day in terms of price change relative to the day prior. Lets take a look at the daily price chart of Litecoin.

Coming into today Litecoin is now close to its 20 day averages, located at 79.83 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Litecoins price has gone up 18 them.

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Litecoin (LTC) Closes Last Hour Down $-0.30; 3 Day Up Streak Broken, Price Base in Formation Over Past 30 Days, in an Uptrend Over Past 90 Days -...