Biggest Movers: LTC Climbs to Highest Level Since May
Litecoin rose to a seven-month high to start the week, as cryptocurrency markets continued to react to the latest U.S. nonfarm payrolls figures. The token was up for a second consecutive session, climbing to its highest point since May. Shiba inu was also a notable gainer on Monday. Litecoin (LTC)
Litecoin (LTC) raced to a six-month high on Monday, as the token climbed for a second consecutive session.
Following a low of $75.93 on Sunday, LTC/USD raced to an intraday peak of $83.49 earlier today.
This move saw litecoin climb to its strongest point since May 10, when the token was trading at a high of $85.02. LTC/USD – Daily Chart
Looking at the chart, today’s rally came as the token moved beyond a resistance at the $82.70 mark.
In addition to this, the 14-day relative strength index (RSI) has moved past a ceiling of its own at the 66.00 level.
As of writing, the index is hovering at the 68.43 point, which is its strongest point since November 24. Shiba Inu (SHIB)
Shiba inu (SHIB) was another notable gainer on Monday, as the meme coin moved to a three-week high.
SHIB/USD surged to a high of $0.00001005 to start the week, which comes after it fell to a bottom of $0.000009253 on Sunday.
As a result of today’s gains, shiba inu is now trading at its highest point since November 11, and close to a key resistance point. SHIB/USD – Daily Chart
SHIB bulls failed to take the token beyond this ceiling at $0.00001010, instead choosing to liquidate earlier positions, and take profits.
Due to this, SHIB has slipped from earlier highs, and as of writing is trading at $0.000009866.
This comes as the RSI nears a resistance level of its own at the 56.00 mark. Currently the index is tracking at 55.39.
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Do you expect shiba inu to move beyond $0.00001010 in the coming days? 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: BTC Races to 3-Week High on Monday MARKET UPDATES | 10 hours ago Biggest Movers: QNT Remains Near Multi-Week High, XMR up for Fifth Straight Session MARKET UPDATES | 2 days ago
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