Litecoin (LTC) Closes Last Hour Down $0.00; 2 Day Up Streak Ended, Price Base in Formation Over Past 90 Days, Pin Bar Pattern Appearing on Chart

Litecoin (LTC) Closes Last Hour Down $0.00; 2 Day Up Streak Ended, Price Base in Formation Over Past 90 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for LTC

Last Updated October 2, 2020, 11:15 GMT

At the moment, LTC’s price is down $0 (0%) from the hour prior. LTC has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. 1 Price action traders may also wish to note that we see a pin bar candlestick pattern on LTC. Given that we see downtrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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

The back and forth price flow continues for Litecoin, which started today off at 46.26 US dollars, down 0% ($0) from yesterday. 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. Litecoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Coming into today the current price of Litecoin is sitting close to its 20 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. 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 7 of the previous 10 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Behold! Here are the top tweets related to 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 tomorrow@APompliano
    Pompletter?

  • 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. ☑️

  • 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