Momentum Reversal? Litecoin’s Heads Down for the First Time in 7 Days

The Daily View for Litecoin

  • At the moment, LTC’s price is down $0 (0%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Litecoin’s hourly price chart is shown below.

LTC

The Daily View for Litecoin

  • Currently, LTC’s price is down $0 (0%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Litecoin has now gone down 9 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Litecoin. Given that we see downtrend on the 20, 10 and 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Below is a daily price chart of Litecoin.

LTC

The Latest From LTC’s Blockchain

  • Over the past 29 weeks, the trend for LTC’s daily large transaction count has been choppy and unclear. It has oscillated between 0 and 12296.
  • For LTC, its daily transaction count is now at 0.
  • LTC has a count of active addresses of 0, down 100% from its value day prior.

Featured Litecoin Idea From TradingView

Below is a trading comment entitled Bottom reached ? you may find interesting:

Hello traders,Litecoin is on a massive buy and support zone and it could easily become an investment, BUTBitcoin hasn’t bottomed yet and because the Altchinesische depend on Bitcoin, it’s no garant that it cannot fall further. We always should be cautious in the crypto space. But anyway it seems to be a good long term buy zone.

Andre19922