Litecoin (LTC) Closes Last Hour Down $-0.49; Heads Down For the 2nd Consecutive Day, in a Downtrend Over Past 30 Days

The Hourly View for LTC

Last Updated June 6, 2021, 02:047 GMT

At the time of this writing, LTC’s price is down $-0.49 (-0.28%) from the hour prior. LTC has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 200 hour changed directions on LTC; it is now pointing down. 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 came into today down 3.13% ($5.59) from the open of the previous day, marking the 2nd consecutive day it has gone down. This move happened on lower volume, as yesterday’s volume was down 26.97% from the day before — and down 58.03% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 3rd since the previous day in terms of percentage price change. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

Coming into today Litecoin is now close to its 200 day moving averages, which may act as price barrier for the asset. 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. Or to view things another way, note that out of the past 30 days Litecoin’s price has gone down 17 them.

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 Ptasty4:

    @photo_katz @litecoin @elonmusk Dude are you blind? What is related to crypto here?
    If people are investing in things whose financials can be ‘manipulated’ by 1 person saying something, it’s probably not smart to invest a whole lotta money in it. Idk how that’s now obvious?

  • From photo_katz:

    @litecoin @elonmusk He needs to stop tweeting about anything crypto. It’s clearly market manipulation at this point. Only serves to delegitimises blockchain currency.

  • From SolAdoni:

    @litecoin @elonmusk It means he’s an autistic nut job.
    He’s a conman, Mars is dead, the core is dead, you can’t restart a dead core, anyone saying so is a conman.
    His EV’s are crap for the environment, he should of produced a 2500 mile to charge eco-ev, not his energy hogs 250 miles to charge