Litecoin (LTC) Closes Prior Hour Down -0.23%; in a Downtrend Over Past 30 Days, 2 Day Down Streak Ended

The Hourly View for LTC

Last Updated June 7, 2021, 03:016 GMT

At the moment, Litecoin’s price is down $-0.42 (-0.23%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Litecoin has now gone up 4 of the past 5 hours. 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 176.29 US dollars, up 1.9% ($3.28) since the previous day. This move happened on lower volume, as yesterday’s volume was down 21.02% from the day before — and down 55.38% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 3rd for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

Notably, Litecoin is now close to its 200 day averages, located at 182.37 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone down 16 out of the past 30 days.

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 DavidBurkett38:

    @lite_hause This truly is the case. Litecoin feels like one of the few coins that hasn’t been entirely lost in all of the profits.The goal still seems similar to the early days: Replace fiat.Accomplishing that can only be done by the good projects in the space supporting each other.

  • From JohnkimLTC:

    Every UBER driver I’ve met got my state of emergency MUST buy #bitcoin #litecoin to survive coming inflation speech.I said there is no time to learn, just buy now and research all you can in your spare time. #winning.

  • From ComendadorMBF:

    2/6 In other words, he could not take over #Bitcoin and set the direction for it, as it’s already too strong for that.Look at some of the top cryptocurrencies apart from Bitcoin: My brother, Charlie Lee, is the public face of @Litecoin #LTCFollow >> @ComendadorMBF