The Hourly View for LTC
Last Updated July 5, 2021, 02:048 GMT
At the moment, LTC’s price is up $0.08 (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on LTC. Given that we see downtrend on the 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Litecoin Daily Price Recap
Litecoin came into today up 3.39% ($4.75) from the open of yesterday, marking the 2nd consecutive day an increase has occurred. The price move occurred on volume that was up 34.84% from the day prior, but down 29.43% 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
Moving average crossovers are always interesting, so let’s start there: Litecoin crossed above 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From MASTERBTCLTC:
Make it it goal to tell people tomorrow about litecoin. Ask them if they think digital currencies are the future, ask them if all the money printing is good or bad. Then tell them about litecoin.
- From MASTERBTCLTC:
Litecoin , at its most basic concept, is an internet currency that is fully transparent, with no banks in the middle to create trust and is secured by cryptography
- From smarty_fly:
@fourtwentydxnny @cryptorecruitr Your question shows that you’re entirely clueless about how any of this works. #Litecoin is currently @ 9.6B market cap, while #ADA is @ 46.26B. ADA is already more than 4x as big. It’s not about the price per single coin!
As for a news story related to Litecoin getting some buzz:
The Blocksize War – Chapter 16 – Litecoin | BitMEX Blog
At the same time, the Litecoin community appeared to enthusiastically support the activation of SegWit, since this was an opportunity for them to implement new technology before Bitcoin, which was seen as very positive….The UASF appeared to be working; miners had gotten the message and the flagging for SegWit on Litecoin started to increase….He explained to me that he didn’t want SegWit in Litecoin, without Litecoin also having a hardfork blocksize increase….He was concerned that, if SegWit activated on Litecoin, it may also activate on Bitcoin….I knew from the conversations in the Den that small blockers absolutely intended to use SegWit activation on Litecoin to help it activate on Bitcoin….On April 21, 2017, in a clear act of copying Bitcoin, a Litecoin roundtable meeting with most of the miners was held in China, and an agreement was published: We advocate that Litecoin protocol upgrade decision should be made based on the needs of the users, through the roundtable meeting voting process, and activated by miner voting … We do not advocate a flag-day “UASF” that does not go though (sic) any users or community voting process.