Litecoin (LTC) Closes Last Hour Up $1.01; Heads Up For the 8th Consecutive Day, Breaks Above 50 Day Average, in a Downtrend Over Past 90 Days

The Hourly View for LTC

Last Updated July 29, 2021, 02:047 GMT

Currently, LTC’s price is up $1.01 (0.73%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Litecoin Daily Price Recap

Litecoin closed the previous day up 4.2% ($5.66); this denotes the 8th consecutive day an upward move has occurred. As for how volume fared, yesterday’s volume was up 26.46% from the previous day (Tuesday), and up 41.5% from Wednesday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to the previous day. Below is a daily price chart of Litecoin.

LTC

Litecoin Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Litecoin crossed above its 50 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 down. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 8 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Litecoin:

  • From tomskiweb:

    #Bitcoin and #Litecoin reward halving supply shock on its way, ‘second wave’ 5th EW rally moving into play.2012 and 2016 halvings preceded the exponential ‘double bubble’ 2013 and 2017 price surges! It’s all golden CoinsKid crew!

  • From wilddotgg:

    We can’t do the beta testing tonight sadly because our designers are finishing our upgrader and jackpot animation :(..
    But we will still give the promised amount ($230) in Rust skins and Litecoin but this time we will also add $50 in TF2 skins since we will also have TF2 system

  • From DGB_LTC_J:

    Litecoin at close to all time low against Bitcoin.Yet fundamentals has never been better. (Grayscale, PayPal, Venmo, Mimblewimble) If ever there was a great opportunity its now.#Litecoin #LTC Not financial advise. Just my thoughts