Litecoin (LTC) Closes Prior Hour Up 0.6%; Heads Up For the 2nd Consecutive Day, Breaks Above 200 Day Average, in a Downtrend Over Past 30 Days

The Hourly View for LTC

Last Updated June 1, 2021, 03:017 GMT

At the moment, Litecoin’s price is up $1.11 (0.6%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is up 10.21% ($17.43) since yesterday, marking the 2nd consecutive day an increase has occurred. The price move occurred on volume that was up 5.51% from the day prior, but down 51.41% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

First things first: Litecoin crossed above its 200 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days.

Overheard on Twitter

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

  • From jasondebolt:

    @heydave7 @elonmusk Kind of. I think Elon plans to support both dogecoin and bitcoin throughout the entire ecosystem of Tesla’s products. Dogecoin/litecoin could be merge mined on FSD hardware in the cars while parked, or on powerwalls. Customers earn coins. Could be big, but pure speculation.

  • From MASTERBTCLTC:

    Accumulate litecoin at these prices right now! You are going to regret not loading up at these levels. This drop was a huge gift. I’ve studied the charts to know that litecoin is going to blow your minds in the next 6 months.

  • From Crypto_Emhyr:

    The reason mainstream media and normies still don’t understand crypto is because when they report on crypto they only talk about shitcoins with no use case, Bitcoin, Litecoin, Dogecoin etc.They don’t get it because there’s nothing to “get” with those shitcoins.