The Hourly View for LTC
Last Updated April 29, 2021, 02:046 GMT
At the moment, LTC’s price is down $-1.49 (-0.58%) 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 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. 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 $258.82, down 0.49% ($1.27) from the previous day. The price move occurred on volume that was up 4.3% from the day prior, but down 33.51% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 4th for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.
Litecoin Technical Analysis
Notably, Litecoin crossed below its 20 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For another vantage point, consider that Litecoin’s price has gone down 8 of the previous 10 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Behold! Here are the top tweets related to Litecoin:
- From LitecoinForever:
Some say “Litecoin is a dead coin”, this isn’t true. Litecoin has high liquidity & global adoption. Litecoin is supported by:
– Grayscale Litecoin Trust
– Blockfi Litecoin Trust
– The ETC Group Litecoin ETC (ELTC)
– CoinShares Physical Litecoin (LITE)
- From jeffscottward:
@Eug_Ng ETH is not an altcoin.It has extra functionality which is distinct from the single feature of fungibility.An altcoin is more like Dogecoin or Litecoin. They are beetle clones of Bitcoin. The coin suffix is usually a good indicator.
- From LitecoinForever:
If the whole point of cryptocurrency is to be a medium of exchange, it makes sense to own Litecoin, which has global adoption & high liquidity. 🤔
As for a news story related to Litecoin getting some buzz:
CNBC Gives Charlie Lee The Platform On The Benefits Of Litecoin Over Bitcoin
Litecoin founder Charlie Lee spoke on CNBC, explaining the differences between Litecoin and Bitcoin….We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
This news is originally posted here