The Hourly View for LTC

Last Updated October 22, 2020, 01:036 GMT

At the moment, LTCs price is up $0.45 (0.82%) from the hour prior. Its been a feast for bulls operating on an hourly timeframe, as LTC has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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.

The back and forth price flow continues for Litecoin, which started today off at 53.14 US dollars, up 13.23% ($6.21) from the day prior. As for how volume fared, yesterdays volume was up 377.89% from the previous day (Tuesday), and up 470.02% from Wednesday of the week before. Litecoin outperformed all 7 assets in the Top Cryptos asset class since the day prior. The daily price chart of Litecoin below illustrates.

First things first: Litecoin crossed above its 20, 50, 100 and 200 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend meaning a trend going up can be seen on the 30 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. Also of note is that on a 14 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 Litecoins price has gone up 18 of the previous 30 trading days.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Litecoin for the past day were:

PayPalGrayscale Litecoin Trust#LTC debit cardLitebringer blockchain gameMWEB (Mimblewimble + Extension Blocks)AtariMore to comeAt the start of the year, I said #Litecoin was going to rip your face off in 2020.Whos laughing now?

@ROYALMRBADNEWS @MishelleO1974 @TJque1 @litecoin_bull @ccunningham821 @Michele17934584 @RealJamesWoods @realDonaldTrump @POTUS 3 That being saidfor some reason in the last 2-3 years he has changed. He has backtracked on many topics. He has argued agaisnt Trump many times. Something is wrong. He is not the same Alex Jones. Either he is controlled now or he is playing some role maybe even for POTUS.

I hardly ever swear, but PayPal just helped #Litecoin give all the doubters a big, fat f*uck you.May delete this tweet later (or pin it, not sure yet).

The rest is here:

Litecoin (LTC) Price Near $55.03; Breaks Above 20, 50, 100 and 200 Day Averages, Price Base in Formation Over Past 14 Days, Makes Big Move Relative to...