Litecoin (LTC) Closes Prior Hour Up 0.49%; Price Base in Formation Over Past 90 Days, 2 Day Down Streak Ended

The Hourly View for LTC

Last Updated June 10, 2021, 07:016 GMT

At the moment, Litecoin’s price is up $0.83 (0.49%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Litecoin has now gone down 4 of the past 5 hours. 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 100 and 20 hour moving averages have been crossed, so that price is now turning above 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

The choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 172.44 US dollars, up 7.25% ($11.66) since the previous day. The price move occurred on volume that was down 19.83% from the day prior, but up 26.53% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.

LTC

Litecoin Technical Analysis

Notably, Litecoin is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Litecoin’s price has gone down 17 them.

Overheard on Twitter

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

  • From CryptoKaleo:

    Just saw a guy with a Litecoin shirt walking down the street.Honestly the first time I’ve ever seen a crypto shirt in public where I live, so kind of cool. Especially because I’m a bag holder lmfao.

  • From JohnkimLTC:

    Wait and see what a SIMPLE MAN will be able to pull off in the future for #Bitcoin #litecoin $AMP. I just know deep in my heart that i will be a part of something that will change lives around the world.

  • From JohnkimLTC:

    We are trying to decentralize the world but i still believe in ppl with a good track record. My intuition turns into conviction when i REALLY get to know the ppl behind it. I’m with @SatoshiLite and @trspalding. 🤷🏻‍♂️ #litecoin $AMP