The Hourly View for LTC
Last Updated July 6, 2021, 02:048 GMT
At the time of this writing, LTC’s price is down $-0.8 (-0.58%) from the hour prior. LTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 100 hour changed directions on LTC; it is now pointing down. 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 137.91 US dollars, down 4.84% ($7.01) from the day prior. The price move occurred on volume that was up 18.31% from the day prior, but down 27.27% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since the day prior in terms of percentage price change. Below is a daily price chart of Litecoin.
Litecoin Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Litecoin crossed below its 20 day moving average yesterday. 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 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Litecoin’s price has gone up 7 of the previous 10 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 14, 30 and 90 day charts, may be slowing down and ready to reverse.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From CryptoDonAlt:
Why do you think Litecoin fell out of favor?Expanding on that thought, why can’t whatever happened to Litecoin happen to your favorite altcoin?I think altcoins are always going to come and go as soon as better competitors come around but wondering what you guys think
- From _Crypto_Tech_:
As far as I’m concerned #Litecoin proved its use case this cycle because it was the only major coin I could use to transfer funds from exchange to exchange without having to pay an absolutely stupid amount in fees.
- From MrVigilanteBTC:
An attack on #Litecoin is an attack on its community – people’s wealth, effort, jobs, and commitment to a greater good for society. As believers of this decentralized currency, it is our duty to defend #Litecoin and the community.It is up to us. We can do this #LitecoinFam