LTC Above $80.00, Moving Away From 6-Week Low  – Market Updates Bitcoin News

LTC Above $80.00, Moving Away From 6-Week Low  – Market Updates Bitcoin News

Litecoin was back above $80.00 on Wednesday, as the token climbed away from a recent six-week low. Today’s rise in price sees the cryptocurrency surge for a third straight day, despite recent market volatility. Cardano was also marginally higher.

Litecoin (LTC)

Litecoin (LTC) jumped back above $80.00 earlier in today’s session, as the token continued to move away from recent lows.

Following yesterday’s low of $78.18, LTC/USD raced to an intraday high of $81.97 on Thursday.

The surge saw litecoin rise from a recent six-week low of $75.32, which took the cryptocurrency to a breakout of a floor at $77.00.

LTC/USD – Daily Chart

Looking at the chart, today’s rally pushed the relative strength index (RSI) towards a resistance level of 39.00.

At the time of writing, the index is currently tracking at 37.95, with LTC falling from earlier highs, and trading at $80.84.

Bulls in the market are likely targeting a ceiling of $85.00, however there will likely be some hurdles in the form upcoming points of resistance.

Cardano (ADA)

Cardano (ADA) was also marginally higher, as prices traded close to a key support level on Wednesday.

ADA/USD hit a high of $0.3727 earlier in the day, which comes following a bottom at $0.3574 during yesterday’s session.

Thursday’s marginal gain sees cardano climb above a price floor of $0.3580, however earlier momentum has somewhat faded.

ADA/USD – Daily Chart

It appears that gains have eased due to the RSI colliding with a ceiling at the 41.00 mark.

Price strength is now at the 37.06 level, after failing to break out of the aforementioned resistance.

ADA is now trading at $0.3613, with bearish pressure significantly higher than earlier in the day.

Register your email here to get weekly price analysis updates sent to your inbox:

Could cardano fall further this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest