Litecoin (LTC) Closes Prior Hour Up 1.02%; Crosses 20 and 50 Day Moving Averages, Price Base in Formation Over Past 30 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for LTC

Last Updated April 2, 2021, 00:017 GMT

At the moment, Litecoin’s price is up $2.06 (1.02%) 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 100 hour timeframe. 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 0.47% ($0.93); this denotes the 6th consecutive day an increase has occurred. The price move occurred on volume that was up 1.58% from the day prior, but down 28.04% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 6th for the day in terms of price change relative to yesterday. The daily price chart of Litecoin below illustrates.

LTC

Litecoin Technical Analysis

First things first: Litecoin crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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. For additional context, note that price has gone up 9 out of the past 14 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 ultimateviet:

    Man if I wasn’t already all-in LTC I would definitely sell everything I own to buy it. Just a few months ago LTC/BTC was .005. When it returns to that level that puts us at $300. This will only increase as BTC pumps and a conservative target short-term is .01. 🚀
    #Litecoin

  • From MukunBTC:

    It’s ridiculous if you believe Litecoin is dead. LTC with 100% uptime has been running for 9+ years without error. LTC had over $13 Trillion in trade volume for the last 30 days. $LTC is being accumulated by institutions & is on PayPalLitecoin is so bullish🚀
    @LitecoinForever

  • From yorkerhodes:

    Finally see the light at the end of the #blockchain tunnelI guess you could say I’m now a #Bitcoin maxiJoining the Litecoin Foundation as an advisor today, April 1stExclusive interview on Tone & Jimmy’s showDM open for interviews on story of my journey

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

Ethereum and Litecoin Set to Explode and Outperform Bitcoin!

 According to him, Everything is perfect as long as Ethereum remains in the price range between 0.028 and 0.03….Van de Poppe says that the prevailing fear, uncertainty, and doubt (FUD) surrounding Ethereum “should guarantee a massive breakout once ETH 2.0 starts to roll.” The next large-cap coin in which he sees potential is Litecoin which is attempting to bounce back after dropping to a multi-week low.