Litecoin rose to the highest level for six weeks after it passed a price threshold. Today’s move comes despite cryptocurrency markets mostly trading lower, ahead of the Federal Open Market Committee (FOMC) meeting. The Unus sed Leo (LEO), which was up for a ninth session, also rose.
Despite cryptocurrency markets generally trading lower, Litecoin (LTC), rose 10% Wednesday.
Following a low of $54.64 during Tuesday’s session, LTC/USD surged to an intraday peak of $61.89.
This rally saw the token surpass $58.20 as a resistance level, reaching its highest point since mid September.
You can see that the 14-day relative stability index also soared as shown in the chart. It is now well above overbought territory.
The index currently tracks at the level of 69.32. This is its highest point since November 2013.
The 10-day (red), which has been on an uptrend since then, is continuing to cross over with the 25-day counterpart (blue).
If this momentum continues, LTC bulls may attempt to drive the price above $64.40.
Unus sed leo
Unus sed leo (LEO) extended an impressive run of gains in today’s session, as prices rose for a ninth straight day.
LEO/USD soared to $4.66 today earlier, less than one day after hovering around $4.51.
Like with litecoin above, today’s surge sees LEO move past a key ceiling of $4.55, on its way to a multi-week high.
The token trades at its best since September 23rd, with the RSI significantly higher.
The index currently stands at 66.14. It is now its highest point in the past two months.
The current bulls are looking for resistance around 68.00. If this is reached traders may move to make previous gains.
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