The Hourly View for LTC
Last Updated November 6, 2020, 01:037 GMT
At the time of this writing, LTC’s price is down $-0.06 (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 an uptrend on the 20 and 10 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 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 up 7.84% ($4.29) since yesterday, marking the 3rd day in a row it has gone up. The price move occurred on volume that was up 36.17% from the day prior, but down 1.27% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 2nd since yesterday in terms of percentage price change. The daily price chart of Litecoin below illustrates.
Litecoin Technical Analysis
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. 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 30 days Litecoin’s price has gone up 17 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From choosze:
@litecoin_bull I find it a trip. Most Patriots that follow you, TRDJ, and Cue should have faith that things are were it needs to be. But many are tripping cause it looks bad. They need to take a chill pill. Have faith. America will win.
- From CoinPayU:
The fee will be reduced if the bitcoin network is not congested. If you do not like the transaction fee, you may choose to use Litecoin, Dogecoin, Faucetpay. There are no fees for these payment processors.
- From Thebluejay9:
@litecoin_bull Are the exposing MSM big time? News last night said Biden needed 2 more to reach 270 and it was imminent. Tonight, he needs 11 and counting has ground to a halt. Monumental sting op?