The Hourly View for LTC
Last Updated April 21, 2021, 19:16 GMT
Currently, Litecoin’s price is up $1.62 (0.61%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. 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
Litecoin came into today down 0.1% ($0.26) from the open of yesterday, marking the 4th consecutive day it has gone down. As for how volume fared, yesterday’s volume was up 13.05% from the previous day (Monday), and up 44.77% from Tuesday of the week before. Those trading within the Top Cryptos asset class should know that Litecoin was the worst performer in the class during yesterday. Below is a daily price chart of Litecoin.
Litecoin Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Behold! Here are the top tweets related to Litecoin:
- From JohnkimLTC:
2021:12 months = 12 roundsWe are in the 4th round. In most 12 round fight, the boxers are warmed up by the 4th. We have 8 rounds to go so don’t be telling me #Litecoin is lagging. Your coin came out too strong early bc of lack of experience. $LTC ATH APRIL.
- From cryptoaddict86:
@kingjimmyc Doge is a fork of litecoin… with all the hype around it I could definitely see it getting to a $1 one day but $100 will take a very long time if ever lollll…It’s a gambling coin, you could make a lot and you could loose a lot because it’s so volatile…
- From lite_hause:
So much #Litecoin bullishness these last few weeks..🐥 Venmo announces ability to purchase Litecoin
🐥 Coinshares launches physical Litecoin ETP
🐥 ETC group launches physical Litecoin ETP
🐥 BlockFi Litecoin trust announced 🐥 ➡️ 🐓
As for a news story related to Litecoin getting some buzz:
The consequences resembled those of Bitcoin Cash’s infamous emergency difficulty adjustment (EDA), which resulted in sharp drops in mining difficulty and made Bitcoin Cash’s mining incentives higher than Bitcoin’s for short periods….Figure 1: Litecoin (LTC) versus Dogecoin (DOGE) price chart for 2014 (in USD)…. Figure 3: Litecoin (LTC) versus Dogecoin (DOGE) hashrate chart – billion hashes per second – 2014….(Source: Litecoin blockchain, Dogecoin blockchain, BitMEX research) When, in 2017, Bitcoin Cash had higher mining incentives per unit of time than Bitcoin, many miners switched to Bitcoin Cash, repeating the pattern of 2014….Bitcoin always had higher incentives per block than Bitcoin Cash….(Source: Coinmarketcap, Litecoin blockchain, Dogecoin blockchain, Dogecoin Github, BitMEX Research) In order to calculate mining incentives for Dogecoin, we had to consider what occurred in 2014, including six changes to the block reward and two hardforks.