LTC

The Hourly View for LTC

Last Updated January 1, 2021, 23:17 GMT

Currently, Litecoin’s price is down $-0.03 (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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 downtrend 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

Litecoin entered today at $124.38, down 4.35% ($5.66) from the previous day. This move happened on lower volume, as yesterday’s volume was down 24.81% from the day before — and down 36.25% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 6th for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

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 up. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:

  • From hus_qy:

    @stxnews1 @mcelroy_sg @iota_penguin @42_paradox The current network utilization is around 6 TPS but we have a capacity of 1500 TPS.But even the current utilization is not that bad compared to other projects.Its :- 5400% more than Polkadot
    – 2400% more than Cardano
    – 1000% more than Litecoin
    – … this list could go on

  • From litecoinforever:

    Litecoin’s value proposition:
    – High liquidity & on every exchange
    – SEC safe “Not a Security”
    – 350m @PayPal users
    – @Grayscale LTCN +2389%
    – 99% Scrypt hashrate dominance
    – MWEB fungibility/privacy
    – Low fees & fast txns
    – $500b+ value transferred
    – Since 2011 100% uptime
    Ł♾🚀

  • From coinbureau:

    $DOT had a cracking end to 2021. Lots of exciting stuff happening in the Polkadot ecosystem including potential substrate 3.0. How long do we think before it flips Litecoin?

For a longer news piece related to LTC that’s been generating discussion, check out:

The Man Who Gave It All Up for Litecoin – Decrypt

Menu Reading Search About In August 2018, John Kim sold his house and gave the proceeds to his wife….I believe the best way to get people into crypto is to show them an example and let them experience it for themselves,” Kim told Decrypt on a recent call from Texas, where he is weathering the coronavirus storm.  He’s still homeless, has been criticized for being foolhardy and reckless, and admits that cryptocurrencies played a big part in the breakup of his marriage….Together with his wife, Kim had begun to invest in Bitcoin and Ethereum in 2017, and became increasingly drawn into the cryptocurrency world—much to the consternation of his family and friends.  Litecoin, in particular, attracted his attention….That’s how I was able to take 10 grand and build 15 businesses.”  In Kim’s mind, going all-in on cryptocurrency presented the only opportunity to change the trajectory of not only his own life but the lives of his two sons….Next year, said Kim emphatically, Litecoin will hit three digits—at the very least….Whether LTC reaches triple digits or not next year, one thing is for sure, per Kim, “I know nobody is willing to go as far as I’m going to go to show the world.” Read on the Decrypt App for the best experience.

(Excerpt) Read more Here | 2020-12-30 19:47:00
Image credit: source

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