Today's session saw Litecoin rise to a three month high following the breakout of a key resistance. This move occurred prior to U.S. inflation data being released, which dropped to 8.3% in August. However, gains earlier in the session were retracted after the release of U.S. inflation data, which was more than anticipated. Apecoin also reached a multi-week peak in today's session.
Litecoin (LTC), which reached a three-month peak on Tuesday, moved above its $64.50 resistance level.
LTC/USD rose to $67.07 today after a weekly low of $60.39.
This is the highest point litecoin has traded since June 1, 2016, when it reached a high of $70.50.
Today's surge of LTC prices was short-lived. Prices fell below the resistance point as the day progressed.
As of writing, litecoin trades at $63.43, as the relative strength indicator (RSI) has hit a barrier of its own.
The index crashed into a ceiling of 60.00 which bulls were unable to break, leading to prices falling.
While litecoin reached a three month peak, APECOIN (APE) reached a three week high earlier in the morning.
The APE/USD reached a peak of $5.87 Tuesday after only 24 hours of trading at a low $5.25.
Tuesday's high is the highest point at which apecoin traded since August 18, when it was above $6.00.
The chart shows that APE has been in a bull run since the week ended, after bouncing from $4.20 support.
This has resulted in an increase of price momentum with the 10-day moving average (red), now at the cusp a cross with longer-term trend line (blue),
Since then, prices have fallen as the RSI has fallen from its six-week high above 60.00.
Sign up here to receive weekly price analysis updates to your inbox:
Is it possible for apecoin to continue rising this week despite increasing market volatility? We'd love to hear your comments.
By: Eliman Dambell
Title: Biggest Movers: LTC Hits Highest Point Since June, as APE Climbs to 3-Week High
Sourced From: news.bitcoin.com/biggest-movers-ltc-hits-highest-point-since-june-as-ape-climbs-to-3-week-high/
Published Date: Tue, 13 Sep 2022 15:38:36 +0000
Did you miss our previous article…