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) 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.
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.
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.
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.
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