LTC

The Hourly View for LTC

Last Updated November 25, 2020, 02:036 GMT

Currently, LTC’s price is down $-1.4 (-1.56%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. 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 0.18% ($0.16) from the open of the day prior, marking the 2nd consecutive day an upward move has occurred. The price move occurred on volume that was up 6.9% from the day prior, but down 25.53% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 6th since the day prior in terms of percentage price change. Here is a daily price chart of Litecoin.

Litecoin Technical Analysis

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 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • From Deathkonen:

    In a fair market Bitcoin SV should be worth more than bch and litecoin. That would give you an approximate price of $ 309. If we add it to the current bullish situation … I would give a price approx. $ 450-600 in the next two months.
    Do your math …

  • From MASTERBTCLTC:

    A lot of people spend time contemplating the risks surrounding #Litecoin 🚀 . They completely miss the biggest risk of all, which is to sit on the sidelines and passively watch the greatest money and technological revolution of the century unfold before their eyes.

  • From DaddyCool1991:

    #Litecoin has finally reached the price to where I could fill up my wife’s gas tank, and still have enough $ left to buy pork rinds & a lemonade. Life is good. #LTC

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

Exploring the idea of interoperability between Cardano and Litecoin | CryptoSlate

David Schwartz, the project director of the Litecoin Foundation, said that it was important to generate as much talk about this idea as possible, as having a bridge between Litecoin and Cardano wouldn’t benefit just the two blockchains, but the entire crypto industry….He said that it’s been a month since the Litecoin Foundation began pushing the idea of cross-chain interoperability with Cardano to the Litecoin community….He said that Cardano and Litecoin can connect by implementing a velvet fork to Litecoin so that the blockchain can adopt NIPoPoWs. While the concept of NIPoPoWs is a well-known one in the crypto industry, velvet forks are yet to make their way into blockchain mainstream….However, it’s not the velvet fork itself that creates the bridge to another blockchain….When it comes to the concrete velvet fork that would connect Litecoin and Cardano, Zindros said that it would happen on the Litecoin side….Zindros said that technically speaking, a velvet fork would be extremely quick to implement to Litecoin.

(Excerpt) Read more Here | 2020-11-24 19:37:00
Image credit: source

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