Litecoin (LTC) Closes Last Hour Up $0.54; Moves Down For the 3rd Day In A Row, Crosses 200 Day Moving Average

The Hourly View for LTC

Last Updated May 31, 2021, 02:016 GMT

Currently, Litecoin’s price is up $0.54 (0.33%) from the hour prior. Litecoin has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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

Litecoin closed yesterday down 7.58% ($13.45); this denotes the 3rd day in a row a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 16.33% from the day before — and down 5.12% 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. Here is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Notably, Litecoin crossed below its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Litecoin’s price has gone down 10 of the previous 14 trading days.

Overheard on Twitter

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

  • From Johnez84:

    People I know who don’t hold #Litecoin ask if these dips scare me. Seriously? We’re trying to bootstrap sound money. I’m not trying to get rich, I’m literally trying to help save the world and a byproduct of that is wealth. Let it go to zero if that’s what happens.

  • From LitecoinForever:

    Since the beginning of Litecoin there have always been Litecoin haters. Just ignore them. Last week Litecoin saw the largest $USD value transfer over its network in its almost 10 year history. Litecoin will continue to grow and is the future.
    $LTC 💎🙌

  • From LitecoinForever:

    The sheeple that are bearish on Litecoin don’t understand that the financial system is completely broken. Do you really believe that the arsonist (Federal Reserve) is going to admit to setting the fire (hyperinflation)? Accumulate Litecoin now to protect your wealth.
    $LTC 💎🙌