Litecoin (LTC) Price Near $82.59; Moves Up For the 2nd Consecutive Day, Breaks Above 20 Day Average, in a Downtrend Over Past 14 Days

The Hourly View for LTC

Last Updated December 14, 2020, 03:044 GMT

At the time of this writing, LTC’s price is down $-0.12 (-0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 closed yesterday up 7.21% ($5.53); this denotes the 2nd consecutive day an increase has occurred. The change in price came along side change in volume that was down 28.17% from previous day, but up 50.84% from the Sunday of last week. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Notably, Litecoin crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone up 5 them.