Dogecoin reached its highest point in more than a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be withdrawn. The lawsuit claims that Musk operated a pyramid scheme, following his sponsorship of dogecoin. Litecoin was another token to scale on Saturday.
Dogecoin (DOGE)
Dogecoin (DOGE) rose higher on Saturday after Elon Musk’s lawyers requested that a lawsuit brought against him by investors in the meme coin be dropped.
In a statement, Musk’s lawyers said: “There is nothing illegal about tweeting words of support or funny images about a legitimate cryptocurrency that continues to have a market capitalization of nearly $10 billion.”
Following a low of $0.07456 on Friday, DOGE/USD rose to a high of $0.07841 to start the weekend.
As a result of the move, the meme coin marginally breached a long-term ceiling of $0.0780.
This came as the RSI also briefly moved past a proprietary resistance at 52.00.
As of this writing, the index now sits at 51.99, with previous gains in DOGE mostly fading.
Litecoin (LTC)
Litecoin (LTC) was another notable gainer to kick off the weekend, as the token also neared a one-week high.
LTC/USD rose to an intraday high of $93.85, less than 24 hours after prices traded as low as $88.34.
This rally sent litecoin to its strongest point since last Sunday, March 26, when it peaked at $94.92.
Looking at the chart, today’s gain pushed LTC near a resistance point at $94.00, however, the bulls have so far been unable to force a breakout.
This is likely due to the 14-day RSI hovering near its own top at the 57.00 mark.
If the bulls move past this point, then there is a good chance that LTC it will move beyond $94.00.
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Do you expect Litecoin to extend this rally further into the weekend? Let us know your thoughts in the comments.
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