SOL 15% Higher, as LTC Hits 5-Week High – Market Updates Bitcoin News

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.

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

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.

Image Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 /

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