Litecoin (LTC) Closes Prior Hour Down -0.04%; Heads Down For the 4th Day In A Row, is Inching Close to 20 and 200 Day Averages, Crosses 50 Day Moving Average

The Hourly View for LTC

Last Updated October 17, 2020, 15:15 GMT

Currently, LTC’s price is down $-0.02 (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 3 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 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin came into today down 3.88% ($1.92) from the open of yesterday, marking the 4th day in a row a decrease has occurred. As for how volume fared, yesterday’s volume was up 77.6% from the previous day (Thursday), and up 98.72% from Friday of the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 6th since yesterday in terms of percentage price change. Here is a daily price chart of Litecoin.

Litecoin Technical Analysis

First things first: Litecoin crossed below its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.