Litecoin (LTC) Closes Prior Hour Up 0.02%; 9 Day Down Streak Ended, in a Downtrend Over Past 14 Days, Bullish Engulfing Pattern in Play

The Hourly View for LTC

Last Updated July 22, 2021, 02:046 GMT

At the moment, LTC’s price is up $0.02 (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on LTC. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 9.61% ($10.31) since yesterday, marking a reversal from the day prior — and the end of a 9 day negative run. The price move occurred on volume that was down 2.62% from the day prior, but up 42.91% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 2nd for the day in terms of price change relative to yesterday. Here is a daily price chart of Litecoin.

Litecoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone down 9 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 14, 90 and 30 day time periods.

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 lite_hause:

    I once dm’d a very popular Bitcoin maxi (who’s done a lot for the space) and asked if he knew why Litecoin’s trading volume was so high relative to its market cap. Only response was “a lot of exchanges lie about volume”. That’s when I knew even “experts” can be highly ignorant.

  • From MASTERBTCLTC:

    Litecoin could hit bitcoins 2017 price top divided by 4. That price would be $4960Few.

  • From SparklingCrypto:

    People are sleeping on #LTC
    Litecoin is going to melt faces.. Will come back to this end of year 💰