Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%
Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices climb by nearly 20% in today’s session, and comes ahead of this afternoon’s Federal Open Market Committee (FOMC) minutes. Solana also surged on Wednesday, moving nearly 20% higher. Litecoin (LTC)
Litecoin (LTC) rose for a second straight session, with prices climbing by as much as 23% earlier today.
LTC/USD rallied to a peak of $81.56, which comes less than a day after trading at a low of $63.20.
The surge in price, which saw LTC move nearly $20.00 higher, sent the token to its strongest point since May 9. LTC/USD – Daily Chart
Looking at the chart, today’s rally also comes as LTC broke past another resistance level, this time surging beyond the $73.00 mark.
In addition to this, the 14-day relative strength index (RSI) continued to maintain recent momentum, moving to a top of 71.01 on Wednesday.
The next visible ceiling appears to be the 73.50 mark, and should this point hold firm, we may see traders begin to secure earlier gains. Solana (SOL)
Solana (SOL) was another notable gainer in today’s session, as the token rebounded from recent lows.
SOL/USD, which fell to an all-time low of $10.94 on Tuesday, rallied to an intraday high of $13.39 in today’s session.
As a result of today’s surge, solana, which has been one of the most impacted tokens following the FTX collapse, was back above a floor of $12.00. SOL/USD – Daily Chart
In addition to the price floor, the RSI index also moved past a floor of its own at 30.00, and is currently tracking at 31.76.
Looking at the chart, the next visible resistance level appears to be the $14.50 mark, which may be where bulls are hoping to take prices.
Prices have since dropped from earlier highs, with SOL currently trading at $13.07.
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Do you expect solana to recover from the damage caused by the FTX collapse? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC MARKET UPDATES | 10 hours ago Biggest Movers: LTC up 12%, Hitting a 3-Week High MARKET UPDATES | 1 day ago
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