Litecoin (LTC) Closes Last Hour Up $0.20; Eyes 20 and 200 Day Averages, Breaks Below 50 Day Average, Moves Down For the 4th Day In A Row

Fibo Quantum

The Hourly View for LTC

Last Updated October 17, 2020, 01:037 GMT

At the moment, LTC’s price is up $0.2 (0.42%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. 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 is down 3.88% ($1.92) since 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. Below 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. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.