The Hourly View for LTC

Last Updated June 15, 2021, 03:016 GMT

Currently, Litecoins price is up $0.13 (0.07%) from the hour prior. This is the 2nd consecutive hour Litecoin has seen its price head up. If youre a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Litecoin. Given that we see an uptrend on the 20 and 10 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 is up 5.29% ($9.04) since yesterday, marking the 2nd straight day an upward move has occurred. The change in price came along side change in volume that was up 54.33% from previous day, but down 13.87% from the Monday of last week. Litecoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. The daily price chart of Litecoin below illustrates.

First things first: Litecoin crossed above its 20 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days.

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

@Jason Tether has more daily volume in trades thanBitcoinLitecoinRippleDogeBinance Coin **combined** Less than 5% of BTC is bought with USD. When Tether is shut down, it will be a bloody mess in crypto.

@litecoin @elonmusk You know what else has a maximum of 84? The number of people who give a shit about Litecoin.

@elonmusk You know what else has 84? Theres a max of 84M Litecoin that can ever exist.

In terms of news links for Litecoin heres one to try:

The Battle for Sound Money | Litecoin Foundation

Due to an identifiable history being linked to each Bitcoin and Litecoin and an ability for one to analyze previous transactions on their respective blockchains, unfortunately, one Litecoin does not equal one Litecoin.To utilize MWEB, a crypto wallet or exchange would be required to integrate it and help serve as the gateway from which you could move your coins in/out from the main chain over to the MWEB side.Exchanges that support Litecoin can decide whether or not to support Litecoins MWEB feature and are not forced to embrace it.MWEB has the ability to scale better than Litecoin and Bitcoin while also having the side benefit of acting as a block size increase on the main chain without there actually being one.Its interesting to note that the addition of MWEB will mark the second time in Litecoins nearly 10 year existence in which Litecoin implements an upgrade prior to Bitcoin.Theres a possibility that Litecoins MWEB may serve as a blueprint for Bitcoin to one day achieve higher fungibility and privacy as well.

See the rest here:

Litecoin (LTC) Price Near $179.23; Crosses 20 Day Moving Average, Moves Up For the 2nd Straight Day, Price Base in Formation Over Past 90 Days -...