Litecoin May Be Offering a Trading Opportunity With Its Cross Below Its 50 Moving Average

The Daily View for Litecoin

  • At the time of this writing, LTC’s price is up $0.94 (0.54%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily 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’s hourly price chart is shown below.

LTC

The Daily View for Litecoin

  • At the moment, LTC’s price is up $0.82 (0.47%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily 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.
  • Divergence between LTC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in LTC’s price.

Below is a daily price chart of Litecoin.

LTC

The Latest From LTC’s Blockchain

  • LTC’s number of daily new addresses now stands at 212743.
  • Over the past 29 weeks, LTC’s daily large transaction count has been in a clear downtrend, falling by about 15.47 per day.
  • LTC has an average transaction value of 289.1917, down 1.45% from its value day prior.

Featured Litecoin Idea From TradingView

Below is a trading comment entitled $LTC you may find interesting:

As Bitcoin , LTC also in a Big triangel formation, but has not yet broke up. We are getting really close for a breakout.

Tradingjob1