Litecoin (LTC) Closes Prior Hour Up 0.42%; Heads Down For the 2nd Consecutive Day, Breaks Below 20 Day Average

The Hourly View for LTC

Last Updated June 17, 2021, 03:016 GMT

Currently, Litecoin’s price is up $0.71 (0.42%) 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 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning above it. 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 the day prior down 4.96% ($8.7); this denotes the 2nd consecutive day a decrease has occurred. The price move occurred on volume that was up 12.09% from the day prior, but down 44.24% from the same day 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 the day prior. Let’s take a look at the daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Notably, Litecoin crossed below its 20 day moving average yesterday. Volatility for Litecoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. For another vantage point, consider that Litecoin’s price has gone down 18 of the previous 30 trading days.