Litecoin (LTC) Closes Last Hour Down $-0.11; 2 Day Up Streak Snapped

The Hourly View for LTC

Last Updated May 4, 2021, 02:016 GMT

At the time of this writing, Litecoin’s price is down $-0.11 (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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

The back and forth price flow continues for Litecoin, which started today off at 269.09 US dollars, down 2.83% ($7.83) from yesterday. This move happened on lower volume, as yesterday’s volume was down 18.58% from the day before — and down 27.81% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since yesterday in terms of percentage price change. Here is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

The first thing we should note is that Litecoin is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. For another vantage point, consider that Litecoin’s price has gone down 10 of the previous 14 trading days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard on Twitter

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

  • From MASTERBTCLTC:

    #Litecoin
    ☑️ low fees
    ☑️ digital silver
    ☑️ 84M
    ☑️ 9+ yrs
    ☑️ no premine
    ☑️ POW
    ☑️ King of Scrypt
    ☑️ No satoshi stash
    ☑️ Segwit
    ☑️ #1 alt on ATMs
    ☑️ BTC twin
    ☑️ 4Y halvings
    ☑️ Grayscale & Blockfi Trust
    ☑️ PayPal / Venmo
    ☑️ Litecoin ETP $LITE
    ☑️ ⚡️
    ☑️ MWEB/Privacy
    ☑️ 100% uptime

  • From lite_hause:

    Litecoin is consistently one of the most utilized and traded cryptocurrencies, not to mention the second most available on crypto ATM’s. Yet, it slid down to 11th place via market cap. LTC has done this a couple of times, only to aggressively bounce up.Usability > Speculation

  • From leveragetrading:

    You will all fold below $500 let alone $1000, $2000 or $5000. When #Litecoin breaks above $5000 you will all be short squeezed. There will be no supply except the one coming from daily miners appx. ~7200 $LTC while millions if not billions in the world will want in 🚀