Litecoin (LTC) Closes Last Hour Down $-0.13; Heads Up For the 5th Straight Day, Crosses 50 Day Moving Average

The Hourly View for LTC

Last Updated October 12, 2020, 01:036 GMT

At the moment, LTC’s price is down $-0.13 (-0.26%) from the hour prior. The hourly chart shows that LTC has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below 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

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. Litecoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Notably, 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.