Litecoin (LTC) Closes Prior Hour Down -0.52%; Crosses 200 Day Moving Average, in a Downtrend Over Past 30 Days, 2 Day Up Streak Ended

The Hourly View for LTC

Last Updated June 5, 2021, 02:045 GMT

Currently, LTC’s price is down $-0.95 (-0.52%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 below 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 entered today at $178.6, down 7.68% ($14.86) from the previous day. The change in price came along side change in volume that was up 8.81% from previous day, but down 51.91% from the Friday of last week. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

First things first: Litecoin crossed below its 200 day moving average yesterday. 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 8 out of the past 14 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 JohnkimLTC:

    I was going to speak at #BitcoinConference until they said i couldn’t talk about #litecoin. So I said in a very tough and stern voice…Ok, i get it.(Soft voice) can i say LITE then say COIN after couple words?In conclusion, I am not speaking the next two days. 😎

  • From FlyingCryptos:

    Original targets are where my bids are at. $LTC #Litecoin (By the way, to be open to everyone. I just got through a near 6 year relationship ending. I will not be as active, for the moment. There is the reason). Thanks for your support.

  • From LitecoinForever:

    Anyone can create a new cryptocurrency, but creating a cryptocurrency that will achieve global adoption is next to impossible. Litecoin has achieved global adoption.
    $LTC 💎🙌

As for a news story related to Litecoin getting some buzz:

Litecoin’s MimbleWimble to be Activated Around the End of 2021 – Ethereum World News

Check out the latest breaking news and updates of Bitcoin (BTC)….He also went on to point out that the project was struggling to get enough developers to review the MimbleWimble code.