Litecoin (LTC) Closes Last Hour Up $0.23; Crosses 20 Day Moving Average, Moves Up For the 2nd Consecutive Day

The Hourly View for LTC

Last Updated July 5, 2021, 03:016 GMT

Currently, Litecoin’s price is up $0.23 (0.16%) from the hour prior. The hourly chart shows that Litecoin has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Litecoin. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Litecoin Daily Price Recap

Litecoin closed yesterday up 3.39% ($4.75); this denotes the 2nd consecutive day an increase has occurred. The change in price came along side change in volume that was up 34.84% from previous day, but down 29.43% from the Sunday of last week. 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. Below is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

First things first: Litecoin crossed above its 20 day moving average yesterday. 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 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 9 them.

Overheard on Twitter

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

  • From MASTERBTCLTC:

    Make it it goal to tell people tomorrow about litecoin. Ask them if they think digital currencies are the future, ask them if all the money printing is good or bad. Then tell them about litecoin.

  • From MASTERBTCLTC:

    Litecoin , at its most basic concept, is an internet currency that is fully transparent, with no banks in the middle to create trust and is secured by cryptography

  • From smarty_fly:

    @fourtwentydxnny @cryptorecruitr Your question shows that you’re entirely clueless about how any of this works. #Litecoin is currently @ 9.6B market cap, while #ADA is @ 46.26B. ADA is already more than 4x as big. It’s not about the price per single coin!

For a longer news piece related to LTC that’s been generating discussion, check out:

The Blocksize War – Chapter 16 – Litecoin | BitMEX Blog

At the same time, the Litecoin community appeared to enthusiastically support the activation of SegWit, since this was an opportunity for them to implement new technology before Bitcoin, which was seen as very positive….The UASF appeared to be working; miners had gotten the message and the flagging for SegWit on Litecoin started to increase….He explained to me that he didn’t want SegWit in Litecoin, without Litecoin also having a hardfork blocksize increase….He was concerned that, if SegWit activated on Litecoin, it may also activate on Bitcoin….I knew from the conversations in the Den that small blockers absolutely intended to use SegWit activation on Litecoin to help it activate on Bitcoin….On April 21, 2017, in a clear act of copying Bitcoin, a Litecoin roundtable meeting with most of the miners was held in China, and an agreement was published: We advocate that Litecoin protocol upgrade decision should be made based on the needs of the users, through the roundtable meeting voting process, and activated by miner voting … We do not advocate a flag-day “UASF” that does not go though (sic) any users or community voting process.