Chainlink rose to a six-month high in today’s session as crypto markets turned green again on Tuesday. Markets were buoyant following stronger-than-expected growth data from China, with global market capitalization up 0.45% at the time of writing. Litecoin rose as well, hitting a two-month high in the process.
Chain Link (LINK)
Chainlink (LINK) rose to a six-month high on Tuesday as the global crypto market capitalization rebounded from Monday’s slide.
LINK/USD rose to an intraday high of $8.66 in today’s session, a day after trading as low as $7.97.
Today’s price surge sent Chainlink to its highest point since Nov. 8, when it traded as high as $9.48.
Looking at the chart, one of the catalysts for today’s price rise was a breakout that occurred in the RSI.
At the time of writing, price strength has moved past a ceiling at the 68.00 mark and is now at 72.93.
This is the strongest reading for the index since February 2021, which could mean a reversal is on the horizon.
Litecoin (LTC)
In addition to LINK, litecoin (LTC) also moved to a multi-month high during today’s session.
After a minimum of $98.11 to start the week, LTC/USD rose above the $100.00 mark, peaking at $102.67 in the process.
As a result of Tuesday’s price increase, litecoin reached its highest point since February 16.
The movement occurred as LTC saw a break of a long-term top at the $101.00 level, before hitting a wall on the RSI indicator.
This aforementioned ceiling was at the 67.00 mark, and as of writing, the index is marginally higher, reading 67.17.
In the event of a full breakout, the next high for litecoin bulls to break is a ceiling of $105.70.
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Can litecoin move above $105.00 in the next week? Let us know your thoughts in the comments.
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