Litecoin (LTC) Closes Last Hour Down $-0.53; But Still in an Uptrend Over Past 90 Days, Moves Down For the 2nd Straight Day, Price Base in Formation Over Past 30 Days

The Hourly View for LTC

Last Updated January 28, 2021, 00:017 GMT

At the time of this writing, Litecoin’s price is down $-0.53 (-0.43%) from the hour prior. The hourly chart shows that Litecoin has seen 2 straight down 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin closed the day prior down 1.76% ($2.41); this denotes the 2nd straight day a decline has happened. The price move occurred on volume that was up 40.34% from the day prior, but down 17.41% from the same day the week before. Those trading within the Top Cryptos asset class should know that Litecoin was the worst performer in the class during the day prior. The daily price chart of Litecoin below illustrates.

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 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 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 14 days Litecoin’s price has gone down 8 them.

Overheard on Twitter

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

  • From CryptoCobain:

    Things pumping since covid:- Pokemon cards
    – NFTs
    – Blockbuster Liquidation vehicle
    – GameStop
    – Nikola
    – Milkybar prices
    – Litecoin
    – CSGO skins
    – Decentraland plots
    – Costa Rica land
    – Iron Man statuesThe fed: “do you think we maybe printed too much this time?”

  • From CryptoIdolic21:

    @DGB_LTC_J Hang in there man. We are still only in Jan. Just think of how many 2X’a #Litecoin will be in 6 months. I’m literally adding more $LTC every paycheck till it moons. We got this. It’s going to climb back to the top 5 of #Crypto once again.

  • From nikcantmine:

    The last GitHub update to Litecoin was over 10 months ago 😭😂

As for a news story related to Litecoin getting some buzz:

Charlie Lee’s 9 Favorite Things About Litecoin – Decrypt

We’ve boiled his answers down into nice handy facts.  Bitcoin and Ethereum, the top two ranking cryptocurrencies by market cap, have both experienced downtime—but not Litecoin, according to Lee.   “Litecoin has been running nonstop for almost 10 years,” Lee told Decrypt….That’s not an option available to Bitcoin Cash, for example; like Bitcoin, it uses the SHA-256 algorithm, but only has around 2% dominance, making it vulnerable to attack….Currently, that’s not the case with Litecoin and Bitcoin,” said Lee.