Litecoin rose to a three-month high in today’s session, following a breakout of a key resistance level. This move occurred prior to U.S. inflation data being released, which dropped to 8.3% in August. However, the earlier gains were reduced after this release which was much higher than predicted. Apecoin also hit a multi-week high in today’s session.
Litecoin, (LTC).
Litecoin (LTC), which reached a three month high Tuesday after moving above its $64.50 resistance mark, climbed to a new all-time high.
Following a low of $60.39 to start the week, LTC/USD rallied to an intraday peak of $67.07 in today’s session.
This marks the most powerful point at which litecoin trades since June 1, 2016, when it hit an all-time high of $70.50.
Today’s surge in LTC was somewhat short lived, with prices falling below the aforementioned resistance point as the day progressed.
By the time of writing, litecoin was trading at $63.43, despite the fact that relative strength index (RSI), has hit a hurdle.
Prices fell after the index hit a ceiling at 60.00. Bulls are unable to break this limit.
Apecoin (APE).
While litecoin reached a peak of three months, APECOIN (APE) reached a three month high in the early hours of today.
After trading at $5.25, the APE/USD price reached $5.87. This was less than 24hours after it had fallen to $5.25.
Tuesday’s top is the highest point that apecoin has traded at since August 18, when the token was above $6.00.
APE’s bull run has begun since the bounce off support at $4.20 can be seen in the chart.
This has resulted in an increase of price momentum. The 10-day (red-colored) moving average is now just above the cross-over with the 25-day (blue-colored) longer-term trend line.
Since then, prices have fallen as the RSI has dropped from the six-week high of 60.00.
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Is it possible for apecoin to continue rising this week despite increasing market volatility? We’d love to hear your comments.
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