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LTC up 12%, Hitting a 3-Week High – Market Updates Bitcoin News

by Eliman Dambell
November 22, 2022
in Cryptocurrency
Reading Time: 4 mins read
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Litecoin rallied to a three-week high on Nov. 22, despite the global cryptocurrency market cap mostly residing in the red. As of writing, the crypto market is down 1.11%, however, litecoin is up by over 12%. Another notable gainer has been chainlink, which rose for a second straight session.

Litecoin (LTC)

Litecoin (LTC) was a big mover on Tuesday, as the token rose by as much as 12% earlier in the session.

Following a low of $60.04 to start the week, LTC/USD raced to an intraday peak of $68.36 today.

The surge in price sent the token to its highest level since November 7, when price was at $73.00.

LTC/USD – Daily Chart

Looking at the chart, today’s rally also comes as LTC moved past a key resistance point of $64.50.

In addition to this, the 14-day relative strength index (RSI) broke out of a ceiling of its own at 61.00, and is currently tracking at 62.01.

Bulls will likely look to maintain this current momentum, with a target of $70.00 a potential exit point.

Chainlink (LINK)

Chainlink (LINK) was another notable mover in today’s session, with prices moving higher for a second straight session.

LINK/USD moved to a peak of $6.29 earlier in the day, which comes less than 24 hours after residing at a low of $5.58.

The move saw the token continue to move away from a recent floor of $5.85, on its way to a five-day high.

LINK/USD – Daily Chart

As of writing, LINK is trading over 7% higher, with bullish momentum gaining, following a breakout of a key ceiling on the RSI indicator.

The index is currently tracking at 45.31, which is marginally above the aforementioned ceiling of 44.00.

Traders now seem to be targeting a ceiling of $6.50, a level that hasn’t been hit since November 16.

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

Could we see chainlink move beyond $6.50 in the coming days? 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 retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.




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. Bitcoin.com 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.

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