NEWSLETTER
Litecoin was one of the biggest gainers on Thursday as prices rallied as much as 13% in today’s session. This came despite the global crypto market capitalization shrinking, down 1.65% at the time of writing. Dogecoin rose as well, as the meme coin rebounded from losses on Wednesday.
Litecoin (LTC)
Litecoin (LTC) has been one of the biggest gainers on Thursday as prices rallied as much as 13% in today’s session.
LTC/USD rose to an intraday high of $91.70 in today’s session, a day after falling to a low of $79.95.
As a result of the move, LTC It rose to its strongest point since March 3, when the token peaked at $95.49.
Overall, the move has pushed the 10-day moving average (red) closer to an upward cross with the 25-day moving average (blue).
Although some will anticipate a cross, there appears to be an obstacle, which comes in the form of a top in the RSI.
At time of writing, the index is sitting at 55.35, which is marginally below the aforementioned resistance zone at 56.00.
Dogecoin (DOGE)
Dogecoin (DOGE) also rallied in today’s session, as the meme coin rallied to a five-day high.
After a low of $0.07213 on Wednesday, DOGE/USD rose to a high of $0.07819 today.
The move caused DOGE to rebound from yesterday’s losses, hitting its highest point since last Saturday in the process.
Looking at the chart, today’s rise has sent the 10-day moving average (red) to the brink of a crossover with its 25-day counterpart (blue).
This is usually a sign of upcoming rallies, which as with LTCit will have to come once the RSI breaks free of a current point of resistance.
Price strength is currently at 51.38, which is slightly below a ceiling at the 52.00 mark.
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