The Hourly View for LTC
Last Updated June 2, 2021, 14:16 GMT
Currently, Litecoin’s price is down $-0.19 (-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 pin bar candlestick pattern on Litecoin. Given that we see an uptrend on the 20 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
182.94 (USD) was the opening price of the day for Litecoin, resulting in yesterday being one in which price moved down 2.75% ($5.17) from yesterday. This move happened on lower volume, as yesterday’s volume was down 16.05% from the day before — and down 48.77% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 5th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Litecoin.
Litecoin Technical Analysis
Coming into today the current price of Litecoin is sitting close to its 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days.
Overheard on Twitter
Behold! Here are the top tweets related to Litecoin:
- From Litewallet_App:
It’s SALE TIME! 🎉🥳🎉🥳
For the next 2 weeks save up 33% when purchasing Litecoin with Moonpay in LitewalletTell a friend & please please write down and save your 12 word seed! - From MASTERBTCLTC:
You can still buy a whole litecoin. There was a time when you could buy a whole bitcoin.Don’t wait until you can only buy a fraction of a litecoin.
- From Pacoiin:
i doubled my eth position. I strongly remember that one litecoin pump based on segwit? We are 2 months out to the london fork. At some point its gonna run and the fomo wil be big. Betting big on this gut feeling. but big is stil only 10% portfolio. I dont overrisk after msp lol
In terms of news links for Litecoin here’s one to try:
How Litecoin and Dogecoin Created One of the Most Robust PoW Network’s | Litecoin Foundation
In a Reddit Merged Mining AMA with the Dogecoin community, Litecoin creator Charlie Lee described Doge’s rapid distribution in the following way….As Litecoin’s hash rate continued to increase, Dogecoin’s network became more vulnerable by the day….Throughout this phase, Litecoin founder Charlie Lee contributed to the discussion by explaining to the Dogecoin community the benefits and negatives of merged mining with Litecoin….With Dogecoin hardforking and allowing merged mining, Litecoin miners (who after all, shared the same mining algorithm as Dogecoin’s), would be incentivized to protect Dogecoin’s network by mining LTC + DOGE simultaneously….At first, Litecoin offered a helping hand in securing Dogecoin’s network via merged mining — saying that, there could become a reality in which through Dogecoin’s constant inflation and continuous mining, miners could later return the favor by helping secure Litecoin’s network as it transitions into a fee-based system….Litecoin miners who decide to merge mine with Dogecoin are essentially receiving “extra gravy” on top of their mined Litecoin’s.