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Biggest Movers: LTC BCH Surge 20% Higher on Friday

LTC, BCH Surge 20% Higher on Friday

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.

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Can bitcoin cash continue this bull run during the weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/tFpjROX
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