Litecoin (LTC) Closes Prior Hour Up 0.52%; Moves Up For the 2nd Day In A Row

The Hourly View for LTC

Last Updated October 23, 2020, 01:037 GMT

At the time of this writing, LTC’s price is up $0.28 (0.52%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Litecoin Daily Price Recap

Litecoin came into today up 2.47% ($1.31) from the open of the day prior, marking the 2nd day in a row an increase has occurred. The change in price came along side change in volume that was down 21.96% from previous day, but up 317.32% from the Thursday of last week. 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. Let’s take a look at the daily price chart of Litecoin.

Litecoin Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • From DaddyCool1991:

    Pretty sure PayPal doesn’t have a commodity as a payment option.This should force a re-look at what the 4 cryptos on it are classified as.My vote is for money.
    Hence the word #cryptocurrency #Bitcoin #Litecoin

  • From ArgoBlockchain:

    What a week. PayPal allowing customers to buy, sell and hold crypto, including BTC, Ether, and Litecoin, is a big step forward. This pushed BTC’s price over the $13,000 mark on Wednesday.

  • From stormxio:

    Congrats to all our users who earned free #litecoin by shopping online and getting crypto cash back through our app. Whether you’re buying Pokemon cards from eBay or some kicks from Nike you’re up 13% on top of your free earnings.@LTCFoundation $LTC ❤️