Litecoin (LTC) Price Near $231.50; Moves Down For the 7th Consecutive Day, Pin Bar Pattern Appearing on Chart, Breaks Below 20 Day Average

The Hourly View for LTC

Last Updated April 24, 2021, 02:047 GMT

At the moment, LTC’s price is down $-2.27 (-0.97%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin came into today down 4.44% ($11.22) from the open of yesterday, marking the 7th consecutive day it has gone down. The price move occurred on volume that was up 0.19% from the day prior, but down 34.9% 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. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

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

  • From JehPah23:

    I bought more Doge, sucks seeing a dip but every coin has just taken a dive. Bitcoin fell to 49k, etherium fell, litecoin fell, etc. i understand new investors not liking this drop but its the volatility that comes with crypto. #dogecoin

  • From cryptobitt:

    April 2017I watched #litecoin price and thinking of buying in the some day. It went $11 and i bought it at 2x expensive. Now i m at the same place $ltc at $225In 24 April to May will be massive growth and we can touch $400 and then you know. 2017- 37X2021 LTC = 13X 😉

  • From Altcoinmo:

    Increased my day trading positions for these scalps, just holding mainly Litecoin now. Stock market has recovered so well from Biden FUD and $BTC is very oversold, expect crypto market to shortly follow which is why we are making small recoveries in the crypto market right now.

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

What Is MWEB On Litecoin? » Vaultoro

One of the advantages of the MWEB chain is that it will provide better fungibility and privacy than Litecoin’s fundamental chain.  Accessing MWEB will be possible through supporting wallets and exchanges….If the worst comes to pass, providers can still disable support for MWEB and continue to process regular Litecoin transactions.  Similar to other public blockchains like Bitcoin or Ethereum, Litecoin doesn’t have any native privacy to speak of….Although MWEB is a privacy-oriented solution, there are other reasons why Litecoin can benefit from this upgrade like transactions costs and scaling solutions but fungibility is a big problem….You do not want the world to know how much bitcoin, litecoin or any other value you have….There is no ” privacy option ” to explore with cryptocurrencies such as Bitcoin, Litecoin, and Ethereum….For this reason, MWEB may prove worthwhile to the right audience.  The ongoing upgrade to Mimblewimble Extension Blocks marks a crucial development for the Litecoin ecosystem.