Technical Signs Suggest LTC’s Downtrend May Be Stalling

The Daily View for Litecoin

  • At the moment, LTC’s price is down $-0.44 (-0.81%) from the day prior.
  • Litecoin has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin’s hourly price chart is shown below.

LTC

The Daily View for Litecoin

  • At the moment, LTC’s price is down $-0.44 (-0.81%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend 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.
  • Divergence alert: Trend in LTC’s price and its RSI are diverging. LTC’s price is declining slower than its RSI.

Below is a daily price chart of Litecoin.

LTC

The Latest From LTC’s Blockchain

  • LTC has a count of active addresses of 0, down 100% from its value day prior.
  • Over the past 29 weeks, LTC’s daily transaction count has been in a clear uptrend, growing by about 485.24 per day.
  • For LTC, its average transaction value is now at 0.

Featured Litecoin Idea From TradingView

Below is a trading comment entitled LTC – Breaking Out you may find interesting:

LTC could be a leading indicator here breaking rank up 13% today. I’m not actually going to buy it but I think its a sign that the next ALT cycle is about to begin. Not advice.

dRends35