Biggest Movers: LTC Breaks Out of Key Resistance Level After Gaining 6%
Litecoin rose by as much as 6% in today’s session, as the token climbed past a key resistance level on Thursday. The move came following several attempts over several weeks, with bulls finally breaking through. Polygon was also higher, ending a recent losing streak.
Litecoin (LTC)
Litecoin (LTC) was one of Thursday’s notable gainers, as prices moved past a key resistance level.
Following a low of $88.35 on Thursday, LTC/USD rose to an intraday peak at $94.21 earlier in the day.
As a result of today’s rally, litecoin broke out of its recent ceiling at $93.00, hitting a two-week high in the process.
From the chart, it appears that Thursday’s surge came as the 14-day relative strength index (RSI) broke out of a ceiling at 58.00.
Since the breakout, the index has continued to climb, and as of writing this is currently tracking at 59.76.
In the event momentum continues in this direction, there is a strong chance that LTC will move above $95.00.
Polygon (MATIC)
Polygon (MATIC) snapped a three-day losing streak on Thursday, following a crossover of moving averages (MA).
The 10-day (red) MA crossed its 25-day (blue) counterpart in today’s session, sending the price to a peak of $0.8974.
This comes following Wednesday’s low at $0.8787, which saw MATIC hit its weakest point since May 25.
Overall, market volatility in polygon remains significantly high, with earlier gains almost fading.
As of writing, MATIC is trading at $0.8934, with the RSI at a reading of 46.03, which is close to a ceiling of 48.00.
Should this aforementioned point of resistance be broken, bulls could force a move toward $0.9000.
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Do you expect polygon to move above $0.9000 this week? Let us know your thoughts in the comments.
