Solana rose as much as 15% on Tuesday as momentum in the cryptocurrency markets picked up. The global crypto market capitalization increased by 4.42% at the time of writing. Litecoin was another notable move, as the token surged to a five-week high.
Solana (SUN)
Solana (SOL) rallied as much as 15% in today’s session as bullish sentiment returned to the cryptocurrency markets.
After a low of $20.18 at the beginning of the week, the SOL/USD rose to a high of $23.20 on Tuesday.
As a result of today’s move, solana reached its strongest point since March 20, when the token peaked at $23.99.
On the chart, it looks like today’s move coincided with the 14-day RSI moving past a top at 58.00.
At the time of writing, the index is at 63.74, which is marginally below a higher resistance level of 64.00.
If the sunday bulls push the RSI past this point, then there is a good chance that the price will move above $24.00.
Litecoin (LTC)
In addition to SOL, litecoin (LTC) was another notable gainer on Tuesday, as the token moved to a multi-week high.
LTC/USD jumped to a high of $96.89 earlier in the session today, which comes after trading as low as $92.37 on Monday.
Tuesday’s surge saw litecoin rise to its highest level since March 2, when LTC was trading at $98.34.
Looking at the chart, prices briefly rallied above a key $95.50 resistance level; however, as the session progressed, these gains were lost.
At the time of writing, LTC It is trading at $95.41, which is still 2.61% higher than Monday’s low.
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What was behind today’s crypto rally? Let us know your thoughts in the comments.
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