Biggest Movers: SOL 15% Higher, as LTC Hits 5-Week High
Solana was up by as much as 15% on Tuesday, as momentum in cryptocurrency markets shifted higher. The global crypto market cap is up by 4.42% at the time of writing. Litecoin was another notable mover, as the token rose to a five-week high. Solana (SOL)
Solana (SOL) rose by as much as 15% in today’s session, as bullish sentiment returned to cryptocurrency markets.
Following a low of $20.18 to start the week, SOL/USD rose to a peak of $23.20 on Tuesday.
As a result of today’s move, solana rose to its strongest point since March 20, when the token was at a high of $23.99. SOL/USD – Daily Chart
From the chart, it appears that today’s move coincided with the 14-day relative strength index (RSI) moving beyond a ceiling at 58.00.
At the time of writing, the index is tracking at 63.74, which is marginally below a higher resistance level of 64.00.
Should solana bulls take the RSI beyond this point, then there is a good chance that price could move above $24.00. Litecoin (LTC)
In addition to SOL, litecoin (LTC) was another notable gainer on Tuesday, as the token moved to a multi-week high.
LTC/USD jumped to a high of $96.89 earlier in today’s session, which comes after trading at a bottom of $92.37 on Monday.
Tuesday’s surge saw litecoin climb to its highest level since March 2, when LTC was trading at $98.34. LTC/USD – Daily Chart
Looking at the chart, prices briefly rose above a key resistance level of $95.50, however as the session has progressed, these gains have been lost.
At the time of writing, LTC is trading at $95.41, which remains 2.61% higher than Monday’s low.
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What was behind today’s crypto rally? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Hits $30,000 on Tuesday, as ETH Nears $2,000 MARKET UPDATES | 12 hours ago Biggest Movers: DOGE, SHIB Consolidate to Start the Week MARKET UPDATES | 1 day ago
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