Biggest Movers: LTC, BCH Surge 20% Higher on Friday
Publikováno: 30.6.2023
Litecoin surged by as much as 20% in today’s session, as bulls took the token to its highest level since April. The move came prior to the latest consumer sentiment report from the U.S, which rose to a reading of 64.4. Bitcoin cash climbed to its highest point since April 2022. Litecoin (LTC) Litecoin (LTC) […]
Litecoin surged by as much as 20% in today’s session, as bulls took the token to its highest level since April. The move came prior to the latest consumer sentiment report from the U.S, which rose to a reading of 64.4. Bitcoin cash climbed to its highest point since April 2022.
Litecoin (LTC)
Litecoin (LTC) rose above $100.00 for the first time since April, as traders seemingly remained bullish on the token following its recent listing on EDX markets.
LTC/USD hit an intraday peak of $102.38 earlier in today’s session, which came following a low of $84.25 the day before.
As a result of the rally, litecoin peaked at its strongest point since April 18, when price reached a top at $103.41.
Today’s move came as bulls were able to break out of a recent resistance level of $98.00, with the relative strength index (RSI) doing similar.
Litecoin’s price strength surged past a ceiling at the 62.00 mark, on its way to a current reading of 65.43.
Should momentum continue, bulls will likely ease pressure closer to an upcoming level of 68.00.
Bitcoin Cash (BCH)
Bitcoin cash (BCH) made significant gains for a second straight session, this time rising by over 20% to end the week.
Following a low of $241.21 on Thursday, BCH/USD raced to an intraday high at $312.77 earlier in the day.
As a result of this latest rally, BCH moved to its strongest point since April 18 last year, when price peaked at $345.00.
Looking at the chart, the latest rally has sent the RSI to a current reading of 86.97, which is significantly overbought.
The 10-day (red) moving average has also made a relatively high leap away from its 25-day (blue) counterpart.
This could signal a potential top, which could be tempting for bears waiting for the perfect time to reenter the market.
Register your email here to get weekly price analysis updates sent to your inbox:
Can bitcoin cash continue this bull run during the weekend? Let us know your thoughts in the comments.