Litecoin (LTC) Closes Last Hour Down $-0.18; Moves Down For the 2nd Consecutive Day

The Hourly View for LTC

Last Updated June 7, 2021, 02:016 GMT

At the moment, Litecoin’s price is down $-0.18 (-0.1%) 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. Price action traders may also wish to note that we see a doji candlestick pattern on Litecoin. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on LTC; it is now pointing down. 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 came into today down 3.13% ($5.59) from the open of the previous day, marking the 2nd consecutive day it has gone down. This move happened on lower volume, as yesterday’s volume was down 26.97% from the day before — and down 58.03% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Coming into today Litecoin is now close to its 200 day averages, located at 181.86 respectively, and thus may be at a key juncture along those timeframes. 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 down. For additional context, note that price has gone down 8 out of the past 14 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Litecoin:

  • From DavidBurkett38:

    @lite_hause This truly is the case. Litecoin feels like one of the few coins that hasn’t been entirely lost in all of the profits.The goal still seems similar to the early days: Replace fiat.Accomplishing that can only be done by the good projects in the space supporting each other.

  • From JohnkimLTC:

    Every UBER driver I’ve met got my state of emergency MUST buy #bitcoin #litecoin to survive coming inflation speech.I said there is no time to learn, just buy now and research all you can in your spare time. #winning.

  • From ComendadorMBF:

    2/6 In other words, he could not take over #Bitcoin and set the direction for it, as it’s already too strong for that.Look at some of the top cryptocurrencies apart from Bitcoin: My brother, Charlie Lee, is the public face of @Litecoin #LTCFollow >> @ComendadorMBF