In this Litecoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for LTC-BTC. Litecoin is a peer-to-peer cryptocurrency that was created as an alternative to Bitcoin, with faster transaction processing times and lower fees. It utilizes the Scrypt proof of work algorithm, which allows for more accessible mining and greater security against ASIC-based attacks. With its large community of supporters and active development team, Litecoin continues to be a popular choice for those looking for a fast and secure cryptocurrency experience.
Litecoin Price Overview:
As of May 07, 2024, Litecoin is trading at approximately 0.00128 BTC. Let’s dive into the detailed price action for LTC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00128 |
| High (H) | 0.0013 |
| Low (L) | 0.00126 |
| Close (C) | 0.00128 |
| Volume (C) | 25,371.68 |
- Open (O): The opening price for today’s trading session was approximately 0.00128 BTC.
- High (H): Litecoin reached a daily high of around 0.0013 BTC.
- Low (L): The daily low for LTC-BTC was approximately 0.00126 BTC.
- Close (C): At the time of analysis, Litecoin is trading near its daily close of 0.00128 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.31% |
| 3D Change (%) | 0.39% |
| 7D Change (%) | -2.06% |
| 30D Change (%) | -12.12% |
| 90D Change (%) | -17.12% |
| YTD Change (%) | -25.45% |
Over the past three days, LTCBTC has increased by approximately 0.39%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -2.06%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LTCBTC maintaining a downward trend of approximately -12.12%, despite intermittent fluctuations. Examining the last 90 days, LTCBTC has witnessed substantial fall of approximately -17.12%, reflecting strong long-term confidence. Year-to-date, LTCBTC has steadily declined by around -25.45%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Litecoin Live Chart:
You can access a live price chart for LTC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.43189.
- Momentum score is 0.02394.
LTC BTC Technical Analysis
Litecoin Trading Volume:
The trading volume for Litecoin (LTC) over the past 24 hours has been insignificant, with approximately 25,371.68 BTC traded against LTC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): LTC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Litecoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LTC-BTC is currently in the neutral zone, around 46.90018. This suggests that Litecoin is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Litecoin (LTC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Receive signals of caution for potential Litecoin (LTCBTC) downturns at 1.28e-03 BTC through bearish technical analysis, accompanied by weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.