Litecoin rose for a sixth consecutive session to start the week, as bullish sentiment returned to cryptocurrency markets. As of writing, the global market cap is up by as much as 2.50%. BNB was also in the green, hitting a 20-day high on Monday.
Litecoin (LTC)
Litecoin (LTC) was a notable mover on Monday, as the token climbed for a sixth consecutive session.
LTC/USD raced to a peak of $92.16 earlier in the day, which comes less than 24 hours after trading at a low of $89.10.
This move has led to litecoin climbing to a key resistance level of $93.00, which was last hit on May 23.
From the chart, the recent rise seems to be a result of the relative strength index (RSI) breaking out of a ceiling at 51.00.
The index has since rallied further, hitting a resistance point at 57.00, which has resulted in earlier gains fading.
At the time of writing, LTC is trading at $91.38, with price strength at a reading of 56.05.
BNB
BNB, or binance coin, was also in the green to start the week, with prices moving to a multi-week high in the process.
Following a bottom at $307.53 on Sunday, BNB/USD rose to an intraday peak of $316.83 earlier today.
This surge saw BNB hit its highest level since May 9, when the token was trading above $320.00.
Overall, BNB is now trading 2% higher than at the same point last week, with today’s rally sending the RSI to its strongest reading since May 1.
In addition to this, the 10-day (red) moving average (MA) is also moving towards an upwards crossover with the 25-day (blue) MA.
Should this cross take place, there is a good chance that BNB will move towards a long-term ceiling at the $340.00 mark.
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What is the highest point BNB will hit before the month ends? Let us know your thoughts in the comments.
from Bitcoin News https://ift.tt/D38KiQh
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