Litecoin (LTC) Price Near $291.78; 2 Day Up Streak Ended, Crosses 20 Day Moving Average

The Hourly View for LTC

Last Updated May 17, 2021, 00:017 GMT

Currently, Litecoin’s price is down $-4.63 (-1.56%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 entered today at $299.79, down 8.19% ($26.75) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 2.22% from the day prior, and up 0.19% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Litecoin crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Litecoin’s price has gone up 5 of the previous 10 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Litecoin for the past day were:

  • From LinkBlueChip:

    How I am retiring this bull run NFA1. Purchase 100 + Litecoins
    2. Sell at end of cycle, blow off top between 3k and 6k
    3. Sell most of Litecoin for USDC ($500k)
    4. Deposit USDC on celcius
    5. Earn 10% APY on USDC
    6. Convert rewards weekly to Litecoin
    7. Pay with LitecoinEnd

  • From loshan1212:

    @elonmusk @itsALLrisky This is why Bitcoin & Litecoin devs have been working to offload transactions from the Bitcoin network to a second layer (L2).L2 technologies such as Lightning ⚡️ Network & Liquid Sidechain.

  • From lite_hause:

    Used to be a big fan of Crypto Capital Venture, until he would say “don’t marry a crypto” upon leaving Litecoin.He later went on to post almost exclusively about ADA, a bit contradictory. Still tune in from time to time but that stuck with me.

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

Litecoin (LTC) Is Now Accepted To Pay Utility Bills City of Williston North Dakota

Some users stated, but this isn’t something that’s inherent to Litecoin or any of the other PoW coins….The profitability of mining Bitcoin requires much cheaper electric than Litecoin….You can mine LTC off the grid….Doge is mix mined!