The Hourly View for LTC

Last Updated December 11, 2020, 02:037 GMT

At the time of this writing, LTCs price is up $0.07 (0.1%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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.

The choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 74.7 US dollars, down 3.55% ($2.75) since the previous day. The change in price came along side change in volume that was up 4.98% from previous day, but down 14.64% from the Thursday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 6th since the previous day in terms of percentage price change. The daily price chart of Litecoin below illustrates.

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. 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. Or to view things another way, note that out of the past 14 days Litecoins price has gone up 8 them.

Over on Twitter, here were the top tweets about Litecoin:

Hey @APompliano, I think itd be awesome if you could get @SatoshiLite on the show to discuss privacy features (confidential transactions) coming towards Litecoin and potentially Bitcoin in the future. Also, why its important.

@litecoin_bull Thank you. Will do what you recommend. No panic here, Christ is with us all the way till the end. I will continue to do my part which is fight as a prayer warrior. We will bring our spiritual enemy to its knees.

You @dbsbank should add #Litecoin! Its market cap is now the 4th. Adding other smaller cap coin but ignoring #Litecoin simply make no sense

More:

Litecoin (LTC) Closes Last Hour Up $0.07; Price Base in Formation Over Past 14 Days, in an Uptrend Over Past 90 Days - CFDTrading