Litecoin (LTC) Closes Prior Hour Up 0.02%; Moves Down For the 3rd Straight Day, in an Uptrend Over Past 30 Days

Fibo Quantum

The Hourly View for LTC

Last Updated October 31, 2020, 01:037 GMT

Currently, LTC’s price is up $0.01 (0.02%) from the hour prior. LTC has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin closed the previous day down 1.58% ($0.87); this denotes the 3rd straight day a decline has happened. The change in price came along side change in volume that was up 41.6% from previous day, but down 31.11% from the Friday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since the previous day in terms of percentage price change. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

The first thing we should note is that Litecoin is now close to its 20 and 100 day averages, located at 52.42 and 52.67 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • From Zhenevieva11:

    @immaluckez @litecoin_bull @ROYALMRBADNEWS @afra0alasri Yes, I remember David Wilcock said about 10 days of darkness in April. So he appeared to be an untrustworthy source

  • From Asadharari:

    Can’t wait for #litecoin to start doing some face melting number and @l3l2ucelee brings out fud folder one by one

  • From mbodlovick:

    @litecoin_bull @ROYALMRBADNEWS In my state, it is legally allowed for using deadly force on someone trying to commit arson on (their) home.

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

Monero Outpacing Litecoin, Bitcoin Cash as a Payment Crypto  | Crypto Briefing

This metric is roughly five to eight times the average transaction fee on Litecoin.  The transaction privacy on Monero prevents comparing transaction count and volume on these protocols.  The increase in the average fee on Monero, however, suggests that the actual volume of transactions on Litecoin is greater….You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice.