Litecoin (LTC) Closes Prior Hour Up 0.89%; Pin Bar Pattern Appearing on Chart, Heads Up For the 2nd Straight Day

The Hourly View for LTC

Last Updated January 30, 2021, 02:046 GMT

Currently, LTC’s price is up $1.18 (0.89%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as LTC has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, 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 came into today up 0.97% ($1.29) from the open of yesterday, marking the 2nd straight day an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 105.73% from the day prior, and up 11.56% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 4th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

The first thing we should note is that the current price of Litecoin is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone up 16 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:

  • From qarriebradshaw:

    @WirelessMindEnt @DogecoinRise It took a whole decade for Bitcoin to do that. I really hope people are patient. This will not be an overnight success story. Especially since doge’s mining is merged with litecoin and we don’tknow what will happen at the next hard fork.

  • From MASTERBTCLTC:

    Litecoin is digital silver
    ☑️ 4x faster blocks
    ☑️ digital silver
    ☑️ 84M
    ☑️ 9+ yrs
    ☑️ no premine
    ☑️ POW
    ☑️ King of Scrypt
    ☑️ No satoshi stash
    ☑️ Segwit
    ☑️ #1 alt on ATMs
    ☑️ BTC twin
    ☑️ 4Y halvings
    ☑️ Oscillator
    ☑️ PayPal Venmo
    ☑️ Atomic swaps
    ☑️ ⚡️
    ☑️ MWEB
    ☑️ 100% uptime

  • From djzee_couture:

    @WSBChairman Mfs think they sleek dumping doge at the highest after mfs put money, then buy again at the dip. Not cool. I put my money in doge but y’all trade with sense lol. Maybe AMC, ETH, LITECOIN, BTC, GME. Good luck everyone