The Daily View for Litecoin
- At the moment, LTC’s price is down $-1.6 (-0.89%) from the day prior.
- This move is a reversal from the day prior, which saw price move up.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
- Of note is that the 100 day changed directions on LTC; it is now pointing down. The moving averages on the daily 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’s hourly price chart is shown below.
The Daily View for Litecoin
- At the moment, LTC’s price is down $-1.64 (-0.91%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
- Of note is that the 200 day changed directions on LTC; it is now pointing down. The moving averages on the daily 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.
- Divergence between LTC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in LTC’s price.
Below is a daily price chart of Litecoin.
The Latest From LTC’s Blockchain
- LTC has a daily large transaction count of 1767, down 18.57% from its value day prior.
- Over the past 29 weeks, LTC’s number of daily new addresses has been in a clear uptrend, growing by about 599.91 per day.
- LTC’s daily transaction count now stands at 109959.
Featured Litecoin Idea From TradingView
Below is a trading comment entitled Litecoin To All-Time High (Part 2) you may find interesting:
I have to make this quick, since I am already behind on coursework and it’s not even halfway through the semester. This is a follow-up to my never-ending, strange attachment to Litecoin. Earlier this year, I projected all-time-high prices for LTC, but it was only able to touch the $420 price briefly before dropping like a rock. Here’s that analysis: https://www.tradingview.com/chart/LTCUSD/oypsiRqd-Litecoin-To-All-Time-High-LTC/But I like Litecoin for some reason. Maybe because it’s faster and cheaper than Bitcoin, has more adoption than most, and no major regulatory concerns. It’s scarce, and fungibility is coming to the network soon, which is a pretty big deal. A lot of people don’t realize that crypto is VERY traceable. In fact, you can look up to see how much money any address owns. Privacy is very important if crypto is to be used (at all) like a currency. You wouldn’t want someone on the receiving end of a Venmo transaction to know how much money you have in the bank, would you?In addition to privacy, Litecoin is also (beginning) an NFT platform called Omnilite. Not that NFT’s are really a Litecoin thing, but it’s interesting none…