Sophia's Blog

Sophia's Blog

Litecoin closed the previous day up 4.75% ($6.54) this denotes 4th consecutive day an increase has occurred

At the moment, Litecoin’s price is up $0.65 (0.46%) from the hour prior. The hourly chart shows that Litecoin has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly 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 closed the previous day up 4.75% ($6.54); this denotes the 4th consecutive day an increase has occurred. The price move occurred on volume that was up 41.77% from the day prior, but down 55.83% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 4th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Litecoin.

Notably, the current price of Litecoin is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.

Close Bitnami banner