Litecoin (LTC) price close to $ 55.03; Breaks above 20, 50, 100 and 200 day averages, price base forming over the past 14 days, big move from past month

The hourly display for LTC

Last updated 22 October 2020, 01: 036 GMT

At present, the price of LTC has increased by $ 0.45 (0.82%) from the previous hour. It was a party for bulls operating on an hourly time frame, as LTC has now increased by 4 in the past 5 hours. Regarding the trend, note that the strongest trend exists in the 50 hour period. The moving averages on the hourly time frame suggest a discontinuity in price, as 20, 50, 100 and 200 are all in a mixed alignment, which means that the trend across time periods is inconsistent, indicating a potential opportunity for rangebound traders.

Litecoin daily price summary

The back and forth price flow continues for Litecoin, which started today at US $ 53.14, up 13.23% ($ 6.21) from the previous day. As for the volume trend, yesterday’s volume increased by 377.89% compared to the previous day (Tuesday) and by 470.02% compared to the previous week’s Wednesday. Litecoin outperformed all 7 assets in the Top Cryptos asset class from the day before. The Litecoin Daily Price Chart below illustrates.

Litecoin technical analysis

First things first: Litecoin broke its 20, 50, 100 and 200 day moving averages yesterday. The clearest trend exists in the 90 days timeframe, which shows the price moving down during that period. Traders will also want to note, however, that a countertrend, i.e. a rising trend, can be seen over the 30 day period. This could be an interesting opportunity for traders who want to sell demonstrations in anticipation of the resumption of the primary trend. Also note that on a 14 day basis the price appears to form a base, which could be the stage for a support / resistance level going forward. For another plus point, consider that Litecoin’s price has increased by 18 of the previous 30 trading days.

Heard on Twitter

For laughs, quarrels or really useful information, let’s see what the most popular tweets related to Litecoin have been in the last day:

• From DaddyCool1991:
  

  PayPal
  Litecoin Trust in grayscale
  #LTC debit card
  Litebringer blockchain game
  MWEB (Mimblewimble + Extension Blocks)
  AtariMore coming up … Earlier this year, I said #Litecoin was going to rip your face off in 2020. Who’s laughing now?

• From ScottyD97155633:
  

  @ROYALMRBADNEWS @ MishelleO1974 @ TJque1 @litecoin_bull @ ccunningham821 @ Michele17934584 @RealJamesWoods @realDonaldTrump @POTUS 3 – That said … for some reason in the last 2-3 years it has changed. He backed down on many subjects. He has argued against Trump many times. Something’s wrong. Not the same Alex Jones. Either he’s being controlled now or he’s playing a role maybe for POTUS too.

• From DaddyCool1991:
  

  I hardly ever swear, but PayPal just helped #Litecoin give all doubters a big fat cock. I might delete this tweet later (or block it, not sure yet).