The Hourly View for LTC
Last Updated June 7, 2021, 04:016 GMT
At the time of this writing, Litecoin’s price is up $0.55 (0.3%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Litecoin has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 $176.29, up 1.9% ($3.28) from yesterday. This move happened on lower volume, as yesterday’s volume was down 21.02% from the day before — and down 55.38% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of Litecoin below illustrates.
Litecoin Technical Analysis
The first thing we should note is that Litecoin is now close to its 200 day averages, located at 182.37 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 another vantage point, consider that Litecoin’s price has gone down 16 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From DavidBurkett38:
@lite_hause This truly is the case. Litecoin feels like one of the few coins that hasn’t been entirely lost in all of the profits.The goal still seems similar to the early days: Replace fiat.Accomplishing that can only be done by the good projects in the space supporting each other.
- From JohnkimLTC:
Every UBER driver I’ve met got my state of emergency MUST buy #bitcoin #litecoin to survive coming inflation speech.I said there is no time to learn, just buy now and research all you can in your spare time. #winning.
- From JohnkimLTC:
I may not be a jack maller or michael saylor but dammit i gave all that i could for #litecoin #bitcoin $AMP adoption.