Litecoin (LTC) Closes Prior Hour Up 0.2%; Nears 20 Day Moving Average, in a Downtrend Over Past 14 Days, Breaks Below 20 Day Average

The Hourly View for LTC

Last Updated April 29, 2021, 03:017 GMT

Currently, Litecoin’s price is up $0.52 (0.2%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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

The choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 258.82 US dollars, down 0.49% ($1.27) since the previous day. The change in price came along side change in volume that was up 4.3% from previous day, but down 33.51% from the Wednesday of last week. 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. Here is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Litecoin crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Litecoin’s price has gone down 8 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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
    – PayPal
    – Venmo
    – The ETC Group Litecoin ETC (ELTC)
    – CoinShares Physical Litecoin (LITE)
    $LTC 💎🙌

  • 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. 🤔
    $LTC 💎🙌

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.