Litecoin hit a three-month high in today’s session, after breaking a key resistance level. The move came ahead of the release of US inflation data, which fell to 8.3% in August. However, after the release, which was higher than expected, the earlier gains declined. In today’s session, Apcoin also reached a multi-week high.
Litecoin (LTC) climbed to a three-month high on Tuesday as the coin broke above the $64.50 resistance area.
After a low of $60.39 to start the week, LTC/USD made an intraday peak of $67.07 in today’s session.
This is Litecoin’s strongest point since June 1, when the coin hit a high of $70.50.
today’s jump LTC The day was somewhat short-lived with prices falling below the above resistance point as the day progressed.
At the time of writing, Litecoin is priced at $63.43, and this comes as the Relative Strength Index (RSI) poses a hurdle in itself.
The index hit a ceiling of 60.00, which the bulls have not been able to overcome so far, resulting in a fall in the prices.
While Litecoin reached a three-month peak, Apcoin (APE) reached a three-week high on the day.
Less than 24 hours after trading as low as $5.25, APE/USD was able to climb to a peak of $5.87 on Tuesday.
Tuesday’s top is the highest point at which Apcoin has traded since Aug. 18, when the coin was above $6.00.
Looking at the chart, APE has been in a bull run over the past week after a rally from the $4.20 support level.
This has led to an increase in price momentum, with the 10-day (red) moving average now at the peak of a cross with the longer-term 25-day (blue) trend line.
The price declined as the RSI declined above the 60.00 mark from its recent six-week high.
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Can Apcoin continue to rise this week despite increased volatility in the market? Let us know your thoughts in the comments.
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Credit : news.bitcoin.com