The Hourly View for LTC
Last Updated June 16, 2021, 06:016 GMT
At the moment, Litecoin’s price is down $-0.17 (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on Litecoin. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. 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
Litecoin entered today at $175.24, down 2.63% ($4.73) from the day prior. This move happened on lower volume, as yesterday’s volume was down 30.53% from the day before — and down 60.12% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since the day prior in terms of percentage price change. Below is a daily price chart of Litecoin.
Litecoin Technical Analysis
Notably, Litecoin is now close to its 20 day averages, located at 174.98 respectively, and thus may be at a key juncture along those timeframes. Volatility for Litecoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From JohnkimLTC:
Everything i do and support in the #crypto space is to make #litecoin more relevant and useful. I already see things playing out in my mind. Flexa will make litecoin spendable at every major retail and on line stores. Few.
- From MikeMcDonald89:
Tell us what Jupiter’s 4th moon is doing and its ramifications for litecoin and we’ll entertain it indefinitely. But if your EVER shill a chain that we aren’t invested in then you’re dead to us.
- From MASTERBTCLTC:
Microstrategy buying more bitcoin is great for bitcoin obviously, it’s also great for litecoin as litecoin outperforms bitcoin during the bull markets.
