Skip to main content

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.

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

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
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more