Litecoin (LTC) Closes Last Hour Up $1.47; in a Downtrend Over Past 14 Days, 9 Day Down Streak Broken, Bullish Engulfing Pattern in Play

The Hourly View for LTC

Last Updated July 22, 2021, 03:016 GMT

Currently, Litecoin’s price is up $1.47 (1.27%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Litecoin has now gone down 4 of the past 5 hours. 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 9.61% ($10.31) since the previous day, marking a reversal from the day prior — and the end of a 9 day negative run. The change in price came along side change in volume that was down 2.62% from previous day, but up 42.91% from the Wednesday of last week. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.

LTC

Litecoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 11 out of the past 14 days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 14, 90 and 30 day time periods.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • From lite_hause:

    I once dm’d a very popular Bitcoin maxi (who’s done a lot for the space) and asked if he knew why Litecoin’s trading volume was so high relative to its market cap. Only response was “a lot of exchanges lie about volume”. That’s when I knew even “experts” can be highly ignorant.

  • From MASTERBTCLTC:

    Litecoin could hit bitcoins 2017 price top divided by 4. That price would be $4960Few.

  • From SparklingCrypto:

    People are sleeping on #LTC
    Litecoin is going to melt faces.. Will come back to this end of year 💰