APE climbs to 3-week high, LTC hits highest point since June – Market improves on Bitcoin news.

Litecoin rose to a three-month high in today’s session following a breakout of a key resistance level. The move came ahead of the release of US inflation data, which fell to 8.3 percent in August. However, following the better-than-expected release, earlier gains were softened. In today’s session, Apecoin hit a multi-week high.

Litecoin (LTC)

Litecoin (LTC) rose to a three-month high on Tuesday, as the token broke through the $64.50 resistance level.

Following a low of $60.39 to start the week, LTC/USD reached a high of $67.07 in today’s session.

This is the strongest point at which litecoin has been sold since June 1, when the token hit a high of $70.50.

LTC/USD – Daily Chart

Today’s LTC rally was somewhat short-lived, with prices falling below the mentioned resistance point as the day progressed.

As of writing, litecoin is trading at $63.43, and this comes as the Relative Strength Index (RSI) hits its barrier.

The index has hit the 60.00 ceiling, resulting in a decline in prices as bulls have yet to move.

Apecoin (APE)

While litecoin reached a three-month high, apecoin (APE) moved to a three-week high earlier in the day.

APE/USD managed to climb to $5.87 on Tuesday, less than 24 hours after trading a low of $5.25.

Tuesday’s peak was the highest point at which apecoin traded since August 18, when the token was above $6.00.

APE/USD – Daily Chart

Looking at the chart, APE has been on a bull run following last week’s $4.20 support.

This has led to an increase in price momentum, the 10-day (red) moving average, now at the top of the cross with the longer-term 25-day (blue) trend line.

The price has been tailing off as the RSI has fallen from a six-week high above the 60.00 mark.

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Despite increasing market volatility, can apecoin continue to rise this week? Let us know your thoughts in the comments.

Ilya Dumbledore

Elliman brings a unique perspective to market analysis, having previously been a brokerage director and retail trade instructor. Currently, he works as an analyst in various asset classes including Crypto, Stocks and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons

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