Litecoin (LTC) Closes Last Hour Down $-1.13; in a Downtrend Over Past 30 Days, Heads Down For the 2nd Consecutive Day, Price Base in Formation Over Past 90 Days

The Hourly View for LTC

Last Updated June 12, 2021, 02:049 GMT

At the moment, LTC’s price is down $-1.13 (-0.72%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as LTC has now gone down 12 of the past 14 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 3.08% ($5.17) from the open of yesterday, marking the 2nd consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 7.92% from the day before — and down 31.56% 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. Let’s take a look at the daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

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. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone down 6 them.

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 DaddyCool1991:

    Not sure if anyone noticed, but @gethedgecrypto will be the first in the world to help convert any portion of your pay into #Litecoin #LTC We are doing this first with @digifox_finance in the EU, UK & US, a multi-purpose walletNot gonna lie, feels pretty cool to do that 😎

  • From lite_hause:

    Bitcoin’s adoption in El Salvador will accentuate Litecoin’s use case.BTC’s layer one is going to become more saturated than it currently is and TBH, Litecoin makes for the next best contender for becoming legal tender—especially with MWEB adding more fungibility.

  • From Delayedgratifi3:

    @Littlelinkgath1 Link founders dumping 1.5 billion dollars on the holders heads while the OA hasn’t still sold a single coin lol soon you link marines will feel like litecoin plebs that defend Charlie Lee for dumping the top while promising confidential transactions is in the works 🤣🤣🤣