The Hourly View for LTC

Last Updated March 26, 2021, 02:057 GMT

Currently, LTC’s price is down $-2.04 (-1.16%) 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. Regarding the trend, note that the strongest trend exists 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 yesterday down 2.52% ($4.44); this denotes the 2nd straight day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 25.22% from the day before — and down 17.13% from the same day 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

Coming into today Litecoin is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 17 out of the past 30 days.

Overheard on Twitter

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

• From johnkim77:
  

  I keeps it simple, use my litecoin card when $LTC is up and use my bank debit card when it’s down. Today I finish paying for my furnitures with my #litecoin card then 5 min later the price dropped. I won.

• From lite_hause:
  

  Why @elonmusk should accept Litecoin at @Tesla-Same principles/functionality as BTC (dominates mining algorithm, secure).-LTC tx confirmations are 4x faster-LTC miners help secure Dogecoin’s network.-Transaction amounts can be hidden via MWEB, ideal for payments.

• From leveragetrading:
  

  Every day, only 7,200 new Litecoins are mined. By 2023, this number will halve to only 3,600 and by 2027 it will halve again to only 1,800 and by 2031 it will halve again to only 900 new Litecoins per day! In 2030s anyone with 50 #Litecoin will be a millionaire… #Bitcoin

For a longer news piece related to LTC that’s been generating discussion, check out:

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The post Litecoin (LTC) Closes Prior Hour Down -1.16%; Moves Down For the 2nd Straight Day appeared first on CFDTrading.