Litecoin rose to a three-month high in today’s session, following a breakout of a key resistance level. The move took place prior to the release of U.S. inflation data, which fell to 8.3% in August. However, following the release, which was higher than expected, earlier gains eased. Apecoin also hit a multi-week high in today’s session.
Litecoin (LTC)
Litecoin (LTC) climbed to a three-month high on Tuesday, as the token moved beyond its $64.50 resistance level.
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 is the strongest point that litecoin has traded at since June 1, when the token hit a 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.
As of writing, litecoin is trading at $63.43, and this comes as the relative strength index (RSI) hit a hurdle of its own.
The index collided with a ceiling of 60.00, which bulls have so far been unable to move beyond, resulting in prices dropping.
Apecoin (APE)
While litecoin hit a three-month peak, apecoin (APE) moved to a three-week high earlier in the day.
APE/USD was able to climb to a peak of $5.87 on Tuesday, less than 24 hours after trading at a low of $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
Looking at the chart, APE has been on a bull run over the past week, following a bounce from support of $4.20.
This has led to an increase in price momentum, with the 10-day (red) moving average, now on the cusp of a cross with the longer-term 25-day (blue) trend line.
Prices have since tailed off, as the RSI fell from its recent six-week peak above the 60.00 mark.
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Can apecoin continue to rise this week, despite market volatility increasing? Let us know your thoughts in the comments.
Eliman Dambell
Image Credits: Shutterstock, Pixabay, Wiki Commons
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