Litecoin snapped a recent bear run on Tuesday, as cryptocurrency prices moved marginally higher. The token was up by nearly 3% in today’s session, ending a six-day losing streak in the process. Chainlink was also in the green, as it rebounded from a key support point.
Litecoin (LTC) snapped a six-day losing streak on Tuesday, as prices rose by as much as 3%.
LTC/USD moved away from a one-month low of $61.00, hitting a high of $65.60 earlier in today’s session.
The move came as bullish pressure intensified once the token hit a key support point of $63.50.
Looking at the chart, the 14-day relative strength index (RSI) also rose, moving away from its long-term floor of 33.50.
Since moving away from yesterday’s six-month low, the index is now tracking at the 37.46 mark.
The next visible resistance seems to be the 46.00 level, and if hit, LTC will likely be trading above $70.00.
Chainlink (LINK) was another notable gainer in today’s session, as prices surged to a four-day high.
Following a low of $5.75 to start the week, LINK/USD climbed to a peak of $6.10 earlier today.
This rally has pushed the token to its highest point since Friday, when it was trading at a top of $6.54.
Similar to litecoin, today’s move saw prices move away from a four-week low, rising from a recent floor in the process.
LINK rallied at the $5.80 support, which came as the RSI rose above a ceiling at the 37.00 level.
As of writing, the index is tracking at 39.81, with LINK/USD trading at $6.06.
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Do you expect chainlink to move to a ceiling of $6.50 before the end of the year? Let us know your thoughts in the comments.
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.
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