Litecoin Daily Price Recap: LTC Down By $0.2 In The Past 4 Hours

The Litecoin daily price recap shows that the altcoin is down by $0.2 in the past 4 hours. The altcoin fares the worst out of the top cryptocurrencies at the start of the day as it entered by 3% lower as we are reading in the Litecoin news.

What is Litecoin doing right now is marking the 2^nd candle in a row since the decline happened by 0.44% Litecoin outperformed all of the top 5 assets in the top crypto asset class but closed the day by 3.33 percent down. This denoted the 4^th consecutive day in a row of decreasing. The price changes came along during the side change in volume that was up by 29% from the previous day but down by 59% from Wednesday of last week. The ones that traded with the top cryptocurrency asset classes should know that Litecoin was the worst performer as we can see in the chart below.

The first thing we can see is that Litecoin gets close to the 20-day averages and it is located at 44.84 and this could be a huge juncture along with the timeframes. The trend trades want to see that the strongest trend appears on the 90day horizon. Over this period, the price was moving down and a trend in the other direction seems to be forming on the 30-day timeframe where the price is headed up.

If the traders look to trade the primary trend, this could be an important opportunity to sell rallies that are created by the counter-trend. Also, as per the Litecoin daily price recap, we can see that on the Litecoin talk forums there are talks that the project will implement the Mimblewimble (MW) privacy enhancements to the coin and has reached an important milestone with the build of a test-bed. Burkett claims that he has also run some end-to-end validation tests through the entire framework.

So far, we have seen that 2020 is not the best year for cryptocurrencies and a particularly tough year for Litecoin (LTC). In times when literally all markets are down due to the COVID-19 pandemic, the Litecoin price is poised for even more lows ahead.