Litecoin (LTC) Closes Prior Hour Down 0%; 5 Day Down Streak Snapped, Breaks Above 20 Day Average, is Inching Close to 20 and 200 Day Averages

The Hourly View for LTC

Last Updated October 19, 2020, 11:15 GMT

At the moment, LTC’s price is down $0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 2 Price action traders may also wish to note that we see some doji and pin bar candlestick patterns 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. Of note is that the 50 hour changed directions on LTC; it is now pointing down. 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 end of a 5 day negative run has come for Litecoin, which finished the day prior up 1.36% ($0.64). This move happened on lower volume, as yesterday’s volume was down 18.66% from the day before — and down 53.48% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 3rd for the day in terms of price change relative to the day prior. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

First things first: Litecoin crossed above its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 7 them.