LTC Hits Highest Point Since June, as APE Climbs to 3-Week High – Market Updates Bitcoin News

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.

LTC/USD – Daily Chart

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/USD – Daily Chart

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.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and retail trade educator. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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