Litecoin (LTC) Closes Prior Hour Down -0.25%; in an Uptrend Over Past 30 Days, Heads Up For the 2nd Straight Day

The Hourly View for LTC

Last Updated January 3, 2021, 02:046 GMT

At the moment, LTC’s price is down $-0.35 (-0.25%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 up 8.3% ($10.5) from the open of yesterday, marking the 2nd straight day an increase has occurred. The price move occurred on volume that was up 92.8% from the day prior, but down 7.77% 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

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 up. For additional context, note that price has gone up 7 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Litecoin:

  • From tradingroomapp:

    @nebraskangooner The only logic for this call is, the current theme of the market, The players, their motive, their logic and their theme fits #Litecoin the most among secondary ALTs once #Bitcoin grows about a certain level. Offcourse $DOT $SNX $AAVE & even $BNB to an extent may catch up soon

  • From johnjohnta:

    @novogratz Litecoin is a Bitcoin hard fork and has brand recognition and association. Perceived value is still value. Also, I always understood LTC as a leading indicator for BTC because the network is not congested and is easier to move your BTC via LTC. Also, its not an either or.

  • From litecoinforever:

    @novogratz Litecoin’s value proposition:
    – High liquidity & on every exchange
    – SEC safe “Not a Security”
    – 350m @PayPal users
    – @Grayscale LTCN +2389%
    – 99% Scrypt hashrate dominance
    – MWEB fungibility/privacy
    – Low fees & fast txns
    – $500b+ value transferred
    – Since 2011 100% uptime

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

Litecoin Confidential Transactions – Dedicated Fund – Development – Litecointalk Forum

So in order to make sure that this continues to happen even after the MimbleWimble code has been integrated, David will need further resources to make the necessary infrastructure changes so once MimbleWimble code is released on Litecoin, the Litecoin Core developers will still be able to merge changes from future Bitcoin core releases….The funds will be held in an escrow account held by the Litecoin Foundation and will be released evenly each month after David Burkett releases his progress update and code repositories….) Thank you Charlie for your continued support & vision for litecoin and the community We are forever grateful David’s update for this month: Mimblewimble Progress Update Thread January pay of $6000 (84.19788186 LTC at 71.2607 LTC/USD) has been sent out to David.