Litecoin (LTC) Closes Last Hour Up $0.22; 2 Day Up Streak Snapped, Breaks Below 20 Day Average

The Hourly View for LTC

Last Updated July 6, 2021, 05:016 GMT

At the time of this writing, Litecoin’s price is up $0.22 (0.15%) from the hour prior. This is the 2nd consecutive hour Litecoin has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 choppiness in the recent daily price action of Litecoin continues; to start today, it came in at a price of 137.91 US dollars, down 4.84% ($7.01) since yesterday. The change in price came along side change in volume that was up 18.31% from previous day, but down 27.27% from the Monday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since yesterday in terms of percentage price change. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Litecoin crossed below its 20 day moving average yesterday. Volatility for Litecoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 14 days Litecoin’s price has gone up 9 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14, 30 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling 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 CryptoDonAlt:

    Why do you think Litecoin fell out of favor?Expanding on that thought, why can’t whatever happened to Litecoin happen to your favorite altcoin?I think altcoins are always going to come and go as soon as better competitors come around but wondering what you guys think

  • From _Crypto_Tech_:

    As far as I’m concerned #Litecoin proved its use case this cycle because it was the only major coin I could use to transfer funds from exchange to exchange without having to pay an absolutely stupid amount in fees.

  • From MrVigilanteBTC:

    An attack on #Litecoin is an attack on its community – people’s wealth, effort, jobs, and commitment to a greater good for society. As believers of this decentralized currency, it is our duty to defend #Litecoin and the community.It is up to us. We can do this #LitecoinFam