The Hourly View for LTC
Last Updated March 17, 2021, 03:022 GMT
Currently, LTC’s price is down $-1.95 (-0.97%) 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. Of note is that the 20 hour changed directions on LTC; it is now pointing down. 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
The back and forth price flow continues for Litecoin, which started today off at 201.62 US dollars, up 0.41% ($0.82) from yesterday. This move happened on lower volume, as yesterday’s volume was down 24.8% from the day before — and down 11.05% from the same day the week before. On a relative basis, Litecoin was the worst performer out of all 7 of the assets in the Top Cryptos asset class during yesterday. Let’s take a look at the daily price chart of Litecoin.
Litecoin Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Litecoin’s price has gone up 17 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Behold! Here are the top tweets related to Litecoin:
- From MASTERBTCLTC:
You literally have an opportunity to buy litecoin before it upgrades to add confidential transactions which is a level of privacy needed for merchants and people to transact without sharing how much money is in your wallet.it’s time to level up your money.
- From alangaustin:
There are 1000’s of cryptos, many of which were premined with large marketing budgets behind them.Litecoin’s ability to live among the top 10 cryptos by market cap since inception 10 years ago says more than you can possibly imagine.Few understand this….but more will.
- From CryptoTony__:
So #Litecoin continues its descent down into my target zone, which il be looking to buy the bounce With most #Altcoins today I will simply wait to see some bullish structures reform before looking for new entries 👌🏻
For a longer news piece related to LTC that’s been generating discussion, check out:
Litecoin has been working on integrating MimbleWimble Extension Block (MWEB) technology since October 2019, with MWEB now set to launch on the 15th of March…. Jedusor pointed out that there were two overarching flaws at the time regarding how bitcoin transactions were processed and validated: Put in a more digestible manner, Conor O’Higgins highlights that the bitcoin blockchain spills out three secrets for every transaction made: This occurs because bitcoin has to fulfill two monetary requirements: (a) it has to ensure that every amount sent between wallets is equal to the amount received and (b) that each transaction sent is verified by the owner of a private key….Poelstra noted that MW “shrinks the transaction history”, with a blockchain like bitcoin’s requiring 15Gb of data to process each and every single transaction.