LTC

The Hourly View for LTC

Last Updated May 23, 2021, 02:046 GMT

At the time of this writing, LTC’s price is down $-2.71 (-1.56%) 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. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin closed yesterday down 6.06% ($10.93); this denotes the 2nd day in a row it has gone down. This move happened on lower volume, as yesterday’s volume was down 43.77% from the day before — and down 22.41% 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. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

First things first: Litecoin crossed below its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Litecoin’s price has gone down 6 of the previous 10 trading days.

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 awertheim:

    Just had an organic convo with a girl at a bar. Unprompted, she brought up that she’s a Dogecoiner and also has some Litecoin. When pressed by me to consider bitcoin instead, her reply: “it’s just too expensive”.Unit bias is a legitimate hurdle at this point…

  • From JohnkimLTC:

    The real truth is that over 40% of USD EVER printed was done in the past 12 months. Copper, soybean, lumber and other commodities are up 300% plus and it’s warning you of hyper inflation that is already here. #bitcoin #litecoin is your lifeline. Grab it and don’t let go.

  • From thecryptob0t:

    Are you worried ur child is texting about crypto?smh = shorting market here
    lmao = longing my ass off
    brb = bitcoin rocks bro
    lol = litecoin or link
    wtf = we trade futures
    btw = bcash the worst
    ily = I longed yesterday
    ftw = futures trading warrior
    ttyl = the trader yolo longed

(Excerpt) Read more Here | 2021-05-22 19:46:56
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.