Litecoin (LTC) Closes Prior Hour Up 0.17%; Heads Up For the 3rd Consecutive Day

The Hourly View for LTC

Last Updated January 4, 2021, 20:17 GMT

At the moment, Litecoin’s price is up $0.26 (0.17%) from the hour prior. The hourly chart shows that Litecoin has seen 3 straight up hours. If you’re 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 some doji and pin bar candlestick patterns on Litecoin. Given that we see downtrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Litecoin Daily Price Recap

Litecoin is up 17.78% ($24.36) since yesterday, marking the 3rd consecutive day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 59.21% from the day prior, and up 11.25% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Litecoin ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of Litecoin below illustrates.

Litecoin Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Litecoin’s price has gone up 9 them.

Overheard on Twitter

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

  • From lite_hause:

    Although Litecoin ended 2020 as one of the best performing crypto’s, there continues to be regurgitated fear mongering. With this thread, I’d like to answer doubts and misinformation so new people entering the space are better-informed.We’ll start off with Charlie selling 👇

  • From lite_hause:

    can now proudly declare itself the oldest surviving cryptocurrency in the top 100 aside from BTC. This past decade, the market has found value in having a “Bitcoin Jr.” and as Litecoin’s Lindy effect continues to grow, I see it being a model for sound money for decades to come.

  • From lite_hause:

    time to earn those LTC’s. He had the right to sell his earned LTC’s—the same right any miner does. He created Litecoin, but he was a participant in the ecosystem like everyone else. TLDR: Lee selling made the network more decentralized and Lee has now worked on LTC full time.

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