Litecoin (LTC) Closes Last Hour Down $-0.54; in a Downtrend Over Past 30 Days, Moves Down For the 2nd Day In A Row, Price Base in Formation Over Past 90 Days

The Hourly View for LTC

Last Updated June 9, 2021, 02:047 GMT

Currently, LTC’s price is down $-0.54 (-0.35%) from the hour prior. LTC has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly 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 Daily Price Recap

Litecoin closed the day prior down 0.76% ($1.23); this denotes the 2nd day in a row it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 50.04% from the day prior, and up 16.94% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 5th since the day prior in terms of percentage price change. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Litecoin’s price has gone down 18 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 LitecoinForever:

    Why are there so many Twitter accounts dedicated to spreading FUD about Litecoin? This is a signal that they want YOU to sell so they can accumulate YOUR LTC. They know how valuable Litecoin is so they spread misinformation. Watch what they do, not what they say. 🤔
    $LTC 💎🙌

  • From THORChain:

    THORStarter will enable users to contribute seamlessly via @xdefi_wallet to new IDOs with *any* asset. Such as Bitcoin, Litecoin and more. The asset is first swapped to XRUNE, then this XRUNE is contributed to the project’s liquidity. This means THORChain benefits

  • From LitecoinForever:

    When you stand by your beliefs it doesn’t matter what others think. People on here have the misconception that I am here speak to their narrative. I came to speak the truth & to support Litecoin’s longevity. You don’t have to agree with everything I say but I do speak the truth.