Litecoin rallied as much as 15% in the Tuesday session as markets reacted to the latest inflation report from the United States. Figures from the monthly Consumer Price Index showed that inflation has fallen to 6% in February, down from 6.4%. Dogecoin also rose on the news, extending recent gains.
Litecoin (LTC)
Litecoin (LTC) was back in the green as prices of the token rallied above $80.00 on Tuesday.
After a minimum of $75.20 to start the week, LTC/USD rose to an intraday high of $86.34 today.
As a result of the move, litecoin has rallied to a seven-day high, breaching a ceiling of $85.00 in the process.
In general, LTC it is up almost $20.00 in the last four days, since dipping to a low of $65.39 on Saturday.
The latest price rally has brought the 14-day RSI to a reading of 49.53, which is its highest point since March 2.
This is marginally above a ceiling at 48.00, and if price strength were to hold past this point, LTC the bulls will probably try to reach $90.00.
Dogecoin (DOGE)
In addition to LTCdogecoin (DOGE) also extended recent gains, with the meme coin surging for the fifth day in a row.
DOGE/USD has risen to an intraday high of $0.07492 on Tuesday, which comes a day after trading at a low of $0.06866.
This rally comes as dogecoin broke a recent resistance level at $0.0730, with the RSI also rising above its own top.
At the time of writing, price strength is at 47.15, which is well above the previously mentioned ceiling at 45.00.
Adding to this, the 10-day moving average (red) is now firmly in an uptrend, with a ceiling of $0.08000 a possible target for the bulls.
Price strength is nearing a ceiling at 50.00. However, if it exceeds this point, DOGE could reach its intended target.
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Will this uptrend continue for the rest of the week? Let us know your thoughts in the comments.
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