Litecoin (LTC) Closes Prior Hour Up 2.11%; in an Uptrend Over Past 14 Days, 2 Day Up Streak Ended

The Hourly View for LTC

Last Updated May 12, 2021, 00:017 GMT

Currently, Litecoin’s price is up $7.99 (2.11%) from the hour prior. Litecoin has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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

The choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 359.52 US dollars, down 7.41% ($28.76) since yesterday. As for how volume fared, yesterday’s volume was up 89.44% from the previous day (Monday), and up 213.16% from Tuesday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 4th for the day in terms of price change relative to yesterday. Here is a daily price chart of Litecoin.

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 up. For another vantage point, consider that Litecoin’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

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

  • From CryptoKaleo:

    I was sitting here for days saying to myself “oh man I hate how fast Litecoin is going up really wanted more time to stack before it enters price discovery”. Now I realize wtf was I wishing for just send everything up always never down again this isn’t nearly as fun.

  • From rektcapital:

    $LTC tends to perform Bull Market retraces that are -30% to -39% deepThat said, it’s quite likely that the latest pullback isn’t going to be one of those deep retracesWhich by extension means that this current market-wide pullback might not be very deep itself#LTC #Litecoin

  • From rektcapital:

    Many Altcoins are on the cusp of breaking out from market structures that took years to formAny short-term fear or uncertainty over the next few days is unlikely to change these long-term formations and structures#Ethereum #Litecoin #Crypto

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

Litecoin price hits $400 all-time high, but LTC rally at risk of overheating

Litecoin price achieves $400 amid an overall crypto market boom….Eye-popping returns in the Litecoin market came on the heels of a broad upside move in the cryptocurrency market.