Litecoin (LTC) Closes Prior Hour Down -0.24%; Makes Big Move Relative to Two Week Trend, 2 Day Down Streak Ended

The Hourly View for LTC

Last Updated October 8, 2020, 01:036 GMT

At the time of this writing, LTC’s price is down $-0.11 (-0.24%) from the hour prior. LTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being below them. 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

Litecoin entered today at $46.61, up 1.3% ($0.6) from the day prior. This move happened on lower volume, as yesterday’s volume was down 47.56% from the day before — and down 5.39% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 2nd since the day prior in terms of percentage price change. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Notably, Litecoin is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. Volatility for Litecoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For another vantage point, consider that Litecoin’s price has gone up 16 of the previous 30 trading days.

Overheard on Twitter

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


    @22Bucky @GinglesKelley @Bernice17_Q @litecoin_bull @loves_kasmir @l1m3ds17 @trumpnut45 @quen43 @cjtruth You mean cj UNtruth who recently became friends with the pedophiles dragons?The same dragons who we exposed?The same dragons who in recent days have been exposed for pedophilia?That cj UNtruth who recently became friends with the pedophiles dragons?

  • From Bernice17_Q:

    @litecoin_bull @ROYALMRBADNEWS @Burge2010 Researching The Judges+ tweets takes time I’ve had ding dongs with my other half Because I read back so much (he’s all good though fully aware 😆 it’s just that once something doesn’t make sense I have dig Cannot imagine How Busy Judges+ are 🙏💙🙏

  • From MillaLiraj:

    What’s happening in #Litecoin lately:-A new Visa card.
    -Grayscale added Litecoin trust to its line.
    -The hash rate increased 50%, as of August.
    -Transactions doubled this year through August.
    -The number of LTC addresses has skyrocketed 400% in the last three years.$LTC

In terms of news links for Litecoin here’s one to try:

Litecoin Launches MimbleWimble Testnet Advancing Scaling and Privacy

Litecoin’s scaling and privacy protocol, MimbleWimble, has recently been launched to testnet as the team moves closer to their ambition of creating a scalable but private blockchain….That has changed with the recent launch of the MimbleWimble (MW) testnet.