Litecoin 4 Hour Price Update
Updated June 06, 2020 07:20 AM GMT (03:20 AM EST)
The choppiness in the recent four-hour candle price action of Litecoin continues; to start the current 4 hour candle, it came in at a price of 46.85 US dollars, up 0.45% ($0.21) since the last 4 hour candle. On a relative basis, the last 4 hour candle were pretty good: Litecoin bested all 5 of the assets in the Top Cryptos class 🙂
Litecoin Daily Price Recap
46.81 (USD) was the opening price of the day for Litecoin, resulting in the previous day being one in which price moved down 1.37% ($0.65) from the previous day. The change in price came along side change in volume that was down 18.15% from previous day, but up 22.4% from the Friday of last week. Relative to other instruments in the Top Cryptos asset class, Litecoin ranked 4th since the previous day 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 Litecoin is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Litecoin’s price has gone up 6 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Litecoin:
- From HammerToe:
@binance @intotheblock Something I didn’t know about Litecoin until last week: that the last commit to the Litecoin core repository was over a year ago. Nothing since. No-one has been able to point me to where development (if any) is now happening.
- From BredGarlicHouse:
@HammerToe @binance @intotheblock Something I DO know about Litecoin:- Charlie Lee stayed on as the Coinbase CTO until they listed LTC, then left- The Litecoin foundation has resorted to selling T shirts to keep the Lites on.
- From TheNvsibleHand:
@legend_zog @jonnylitecoin Not directing at 1 person, but a general statement.Most people in crypto now leave their coins on exchanges, never transact, and think of them as stocks.And I know you working for adoption, I know you transact, and I know you know1 #Litecoin = 1 #Litecoin
As for a news story related to Litecoin getting some buzz:
Witness signatures in “legacy Bitcoin blocks” often take more than 50% of the block size….By removing witness signatures from the transaction block, this protocol effectively increases the number of transactions that can be stored in a single block, rendering the network capable of handling more transactions per second….Without Segregated Witness, these signatures could be altered before the block is validated by miners….This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature now won’t affect the transaction ID….However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network….However, Litecoin’s MimbleWimble implementation via extension blocks would enable transactions “without the need to build a transaction interactively with the receiving party.” Specifically, Litecoin aims to achieve a similar result with Diffie-Hellman Key Exchange.