Litecoin (LTC) Closes Last Hour Down $-0.40; Heads Down For the 6th Straight Day, Pin Bar Pattern Appearing on Chart, in an Uptrend Over Past 30 Days

The Hourly View for LTC

Last Updated April 23, 2021, 03:016 GMT

At the time of this writing, Litecoin’s price is down $-0.4 (-0.17%) from the hour prior. Litecoin has seen its price go down 5 out of the past 5 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on Litecoin. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 came into today down 1.91% ($4.93) from the open of the previous day, marking the 6th straight day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 60.04% from the day prior, and up 70.95% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 2nd since the previous day in terms of percentage price change. Below is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Coming into today Litecoin is now close to its 20 day averages, located at 251.25 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Litecoin’s price has gone down 6 of the previous 10 trading 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 JRNYcrypto:

    I’m up huge on Litecoin position, yet people want to act like it’s a bad pick just because other stuff is up moreI have 0 regrets in being diversified and practicing risk management. I’m up around 2x on my $LTC position and earning 6.5% per year on it at the same time πŸ€·β€β™‚οΈ

  • From calic415:

    @YahooFinance you allowed misinformation to spread on your platform about #Dogecoin. What happened to your research team? We do have a team of programmers constantly maintaining Doge. We do run a system similar to Litecoin. DOGE has a soft market cap! @BillyM2k @dogecoin_devs

  • From LitecoinForever:

    Again here’s why you need to accumulate Litecoin
    – MWEB (fungibility & privacy)
    – High liquidity
    – On every exchange
    – Secure & safe to use
    – Low transaction fees
    – Fast transactions
    – 100% uptime
    – Decentralized
    – Censorship resistant
    – Global adoption
    – Store of value
    $LTC πŸ’ŽπŸ™Œ

For a longer news piece related to LTC that’s been generating discussion, check out:

Litecoin Climbs 10% In a Green Day By Investing.com

It has traded in a range of $231.8659 to $335.2682 in the past 7 days….Bitcoin was last at $54,292.2 on the Investing.com Index, down 1.10% on the day.