Litecoin reached a nine-month high on February 1, after a breakout of a key resistance level. The rise in price comes as the global cryptocurrency market capitalization increased marginally higher today, and is up 0.57% as of this writing. Cosmos was another notable move, with prices rising for the second session in a row.
Litecoin (LTC)
Litecoin (LTC) rose to a nine-month high on Wednesday as prices broke above a key resistance level.
LTC/USD reached a high of $97.73 earlier in today’s session, less than 24 hours after trading as low as $93.05.
As a result of the surge, litecoin rose to its strongest point since May 5, when prices peaked at $106.86.
Looking at the chart, the move took place after a breakout of a top at $95.50 and came as the Relative Strength Index (RSI) collided with resistance of its own.
At time of writing, the index is at 65.96, which is marginally below a resistance level at 66.00.
Since approaching this point, past earnings have declined somewhat, with LTC it is now trading at $95.58.
cosmos (ATOM)
cosmos (ATOM) was another notable move in today’s session, with the token rising for the second day in a row.
After a minimum of $13.15 on Tuesday, ATOM/USD moved to a high of $13.84 earlier in the day.
Wednesday’s rally saw the cosmos move above a $13.50 ceiling, nearing its highest point since November 8 in the process.
While this resistance level was broken, the 14-day RSI was nearing one of its own at 66.00.
At time of writing, the index stands at 61.77, after rebounding from a support point at 58.00
If this top is reached at 66.00, it is likely that ATOM it could trade above the $14.00 mark.
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