The Hourly View for LTC
Last Updated January 31, 2021, 02:046 GMT
At the moment, LTC’s price is down $-1.6 (-1.19%) from the hour prior. LTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 100 and 50 hour changed directions on LTC; they are 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 133.53 US dollars, down 0.98% ($1.32) from the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 22.82% from the day prior, and up 20.27% 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 the previous day. Here is a daily price chart of Litecoin.
Litecoin Technical Analysis
The first thing we should note is that the current price of Litecoin is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 and 30 day timeframes. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For another vantage point, consider that Litecoin’s price has gone down 6 of the previous 10 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Litecoin:
- From HonaCostello:
Its still great to invest in litecoin but its pretty high 134. I would wait till it reach 100 and buy again. If not im off it. I buy crypto for 134 unless it was ether haha. I have a lot of ether. Nah no I dont im broke lol.
- From DGB_LTC_J:
- From Snowflake_papi:
In terms of news links for Litecoin here’s one to try:
I am now focused on making Litecoin more fungible by adding Confidential Transactions….As reported by CryptoSlate earlier this week, data from on-chain analytics firm Arcane Research showed Litecoin briefly traded at a 1,200% premium on Grayscale’s newly launched Litecoin trust….None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article….None of the information you read on CryptoSlate should be taken as investment advice.