The Hourly View for LTC
Last Updated March 2, 2021, 02:048 GMT
At the moment, LTC’s price is up $0.13 (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on LTC. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Litecoin Daily Price Recap
The back and forth price flow continues for Litecoin, which started today off at 176.07 US dollars, up 6.32% ($10.47) from yesterday. This move happened on lower volume, as yesterday’s volume was down 22.51% from the day before — and down 73.1% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 6th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Litecoin.
Litecoin Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Litecoin crossed above its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days. Price action traders may also wish to note the presence of a bullish engulfing pattern in the midst of the downtrend on the 14, 90 and 30 day charts, which may signal the trend is concluding.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:
- From Al_ameen_Yabo:
Did you know that u can be a millionaire in less than a month with 400k capital if u invest in bitcoin or Litecoin? The only problem now is too much charges bcox CBN ain’t allowing direct deposits and withdrawals to/from banks.
- From ultimateviet:
I admit I have been wrong 100 times on LTC/BTC but the good thing is I kept accumulating more. Sure I’ve missed out on many pumps but I’ll eventually catch the bottom and I’ll be locked and loaded. All it takes is for me to be right once and I’m set for life. 🚀
#Litecoin - From HoloRogue:
I randomly look at “watchlisted” on coinmarketcap for coins i am researching. #Holochain has gone from 40k to 51k in less than 2 weeks. Why is this relevant? Well Litecoin has 289k market rank 8, Polkadot 240k rank 6 people are starting to take notice, fast.
For a longer news piece related to LTC that’s been generating discussion, check out:
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your Litecoin into a hardware wallet….Litecoin use Litecoin’s Scrypt.