Litecoin (LTC) Closes Last Hour Down $-2.78; Moves Down For the 9th Day In A Row, Pin Bar Pattern Appearing on Chart

The Hourly View for LTC

Last Updated April 26, 2021, 02:045 GMT

At the time of this writing, LTC’s price is down $-2.78 (-1.17%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as LTC has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on LTC; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Litecoin Daily Price Recap

Litecoin is down 0.56% ($1.27) since yesterday, marking the 9th day in a row it has gone down. This move happened on lower volume, as yesterday’s volume was down 13.03% from the day before — and down 78.64% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 2nd since yesterday in terms of percentage price change. Here is a daily price chart of Litecoin.

Litecoin Technical Analysis

The first thing we should note is that the current price of Litecoin is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Litecoin’s price has gone down 9 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 can honestly say I have a different relationship with my #Litecoin. My blood sweat and tears went into acquiring and hodling it. I feel like I’ve earned every “Łite”
    that I have in my possession. The success of $LTC means so much more than the usd value of it.

  • From sethforprivacy:

    6/ Thinking that coins that I could have “a lot” of would be more valuable long term.This pulled me into clear scams like TRON along with zombie chains like Litecoin. Once you realize that Bitcoin etc. are divisible it helps get past the “I need 1mil coins!” phase.

  • From MASTERBTCLTC:

    Lots of people always tell me that I’m being to risky holding 100% of my net worth in litecoin. Little do they know that they’re taking way more risk holding 100% of their wealth in fiat.#LTC🚀 #Litecoin🚀

In terms of news links for Litecoin here’s one to try:

The Current Status Of Litecoin In Asia » Vaultoro

Although not much is known about the current landscape, some recent developments are worth paying attention to.  Asia has been a relatively problematic region for cryptocurrencies over the years….One of the local gaming stores has integrated support for four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Icon.