Litecoin (LTC) Closes Prior Hour Up 0.39%; Moves Up For the 4th Consecutive Day, Price Base in Formation Over Past 30 Days

The Hourly View for LTC

Last Updated March 31, 2021, 00:017 GMT

At the time of this writing, Litecoin’s price is up $0.76 (0.39%) from the hour prior. The hourly chart shows that Litecoin has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 200 hour changed directions on LTC; it is now pointing up. 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 the previous day up 5.11% ($9.42); this denotes the 4th consecutive day an increase has occurred. As for how volume fared, yesterday’s volume was up 7.07% from the previous day (Monday), and up 19.53% from Tuesday of the week before. 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

Notably, Litecoin is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Litecoin’s price has gone up 19 of the previous 30 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:

  • From Bloqport:

    PayPal to announce the following later today:- customers can use their crypto to pay at 29 million merchants globally- pay with Bitcoin, Ether, Litecoin etc.- transactions settled in fiat, merchants won’t take on volatility risk- no transaction fee to pay with crypto

  • From litecoin:

    @JRNYcrypto Small steps like these will help solve the chicken-and-egg problem. As more merchants accept BTC/LTC, more people will be able to pay with crypto. Over time retailers will find that it is cheaper to accept Litecoin via the Litecoin Network.

  • From johnkim77:

    Litecoin is doing exactly what it’s supposed to be doing to position itself as the ultimate payments coin. If you’re a gambler, you will say all kinds of negative things about it bc you made it all about you and your pockets. Zoom out and you will see $LTC is UNSTOPPABŁE.

In terms of news links for Litecoin here’s one to try:

News: vanishing NFTs, Free Keene not so free, Coinbase wash-trading Litecoin – Attack of the 50 Foot Blockchain

Attack of the 50 Foot Blockchain Blockchain and cryptocurrency news and analysis by David Gerard I’m an “is it art?” maximalist….[press release] New Bitcoin use case found!…— Adam Singer (@AdamSinger) March 29, 2021   The Advertising Standards Authority (UK) has finally acted against an ad for Bitcoin — in this case, a Coinfloor ad running in local papers, featuring a woman buying bitcoins with a third of her pension….[Coingeek] I don’t yet know of anyone busted for money-laundering through NFTs, but it’s the obvious use case for objects of purely subjective value being traded in an art market at the speed of crypto….[Crypto News] I was interviewed on NTD about NFTs: Expert Warns About NFT Digital Crypto Art….[YouTube] I talked about celebrity crypto scams on NTD — the Elon Musk scams on Twitter, and the Instagram influencer who conned his followers out of bitcoins.