Litecoin (LTC) Closes Last Hour Down $-0.54; 9 Day Down Streak Snapped, Bullish Engulfing Pattern in Play, in a Downtrend Over Past 14 Days

The Hourly View for LTC

Last Updated July 22, 2021, 05:016 GMT

At the moment, Litecoin’s price is down $-0.54 (-0.46%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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’s 9 day negative streak has officially concluded, as the candle from the previous day closed up 9.61% ($10.31). The price move occurred on volume that was down 2.62% from the day prior, but up 42.91% 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 the previous day. Below is a daily price chart of Litecoin.

Litecoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For another vantage point, consider that Litecoin’s price has gone down 9 of the previous 10 trading days. Candlestick traders will also want to note that we are seeing a bullish engulfing pattern amidst the downtrend on the 14, 90 and 30 day charts; a bullish engulfing pattern amidst a downtrend may signal the downtrend is ready to culminate.

Overheard on Twitter

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

  • From lite_hause:

    I once dm’d a very popular Bitcoin maxi (who’s done a lot for the space) and asked if he knew why Litecoin’s trading volume was so high relative to its market cap. Only response was “a lot of exchanges lie about volume”. That’s when I knew even “experts” can be highly ignorant.

  • From b_sord:

    Weekly update, The TGA reports that 399 Australian have died after recently receiving the Vaccine. These numbers are ones reported
    @PFP_Australia @Carmilla5 @petemcguiness @ProudOldSoldier @aussie_smitty @aus_spirit @AbbyBSord @OzraeliAvi @litecoin_bull @dnforca @TheFlatEartherr

  • From MASTERBTCLTC:

    Litecoin could hit bitcoins 2017 price top divided by 4. That price would be $4960Few.