LTC

The Hourly View for LTC

Last Updated July 6, 2021, 06:016 GMT

At the time of this writing, Litecoin’s price is down $-0.52 (-0.37%) 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 50 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

137.91 (USD) was the opening price of the day for Litecoin, resulting in yesterday being one in which price moved down 4.84% ($7.01) from yesterday. The change in price came along side change in volume that was up 18.31% from previous day, but down 27.27% from the Monday of last week. 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. Here is a daily price chart of Litecoin.

Litecoin Technical Analysis

First things first: 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. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone up 7 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14, 30 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling 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

(Excerpt) Read more Here | 2021-07-05 19:49:21
Image credit: source

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