Litecoin (LTC) Price Near $83.10; 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 15, 2020, 01:016 GMT

At the time of this writing, LTC’s price is down $-0.24 (-0.29%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 the previous day 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 Monday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Litecoin below illustrates.

LTC

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.