LTC

The Hourly View for LTC

Last Updated June 2, 2021, 10:16 GMT

At the moment, Litecoin’s price is down $-0.53 (-0.29%) from the hour prior. This is the 2nd straight hour Litecoin has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 200 hour changed directions on LTC; it is now pointing up. 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 $182.94, 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. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Notably, Litecoin is now close to its 200 day averages, located at 179.58 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 6 of the previous 10 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • 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

  • 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!

As for a news story related to Litecoin getting some buzz:

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.

(Excerpt) Read more Here | 2021-06-01 19:46:36
Image credit: source

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