LTC Races to 9-Month High, ATOM Extends Recent Gains – Market Updates Bitcoin News

    Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session.

    Litecoin (LTC)

    Litecoin (LTC) surged to a nine-month high on Wednesday, as prices rose past a key resistance level.

    LTC/USD hit a peak of $97.73 earlier in today’s session, less than 24 hours after trading at a low of $93.05.

    As a result of the surge, litecoin rose to its strongest point since May 5, when prices were at a high of $106.86.

    Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains
    LTC/USD – Daily Chart

    Looking at the chart, the move took place following a breakout of a ceiling at $95.50, and came as the relative strength index (RSI) collided with a resistance of its own.

    As of writing, the index is tracking at 65.96, which is marginally below a resistance level at 66.00.

    Since approaching this point, earlier gains have somewhat declined, with LTC now trading at $95.58.

    Cosmos (ATOM)

    Cosmos (ATOM) was another notable mover in today’s session, with the token climbing for a second straight day.

    Following a low of $13.15 on Tuesday, ATOM/USD moved to a peak of $13.84 earlier in the day.

    Wednesday’s rally saw cosmos move above a ceiling at $13.50, nearing its highest point since November 8 in the process.

    Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains
    ATOM/USD – Daily Chart

    Whilst this resistance level was broken, the 14-day RSI was approaching one of its own at 66.00.

    As of writing, the index is tracking at 61.77, after it bounced from a support point at 58.00

    Should this ceiling at 66.00 be hit, it is likely that ATOM could be trading above the $14.00 mark.

    Register your email here to get weekly price analysis updates sent to your inbox:

    Do you expect cosmos to climb past $14.00 this week? 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 online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

    Image Credits: Shutterstock, Pixabay, Wiki Commons

    Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

    Source link

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...