Wednesday, 17 May 2023

Biggest Movers: LTC Hits 2-Week High, as APE Extends Gains

by Earn Media

Biggest Movers: LTC Hits 2-Week High, as APE Extends Gains

Litecoin rose for a third consecutive session on Tuesday, despite cryptocurrency markets mostly falling lower. The global market cap is currently down by 1.28%, as overall market uncertainty remains high. Apecoin also rallied, extending recent gains.

Litecoin (LTC)

Litecoin (LTC) was once again in the green, as the token rose for a third consecutive session.

LTC/USD surged to a peak of $89.68 in today’s session, after starting the week at a low at $86.42.

Tuesday’s rally has seen litecoin climb to its strongest point since April 30, which is the last time price was above $90.00.

From the chart, it appears that this level is once again the target for bulls, and could very likely be hit in the coming days.

After breaking out of a ceiling at 50.00, the relative strength index (RSI) is now tracking at 56.28.

The next visible point of resistance is now at the 59.00 mark, and should this be hit, not only will LTC be above $90.00, but likely closer to 92.00.

Apecoin (APE)

In addition to LTC, apecoin (APE) also surged on Tuesday, despite current market uncertainty.

Following a low of $3.33 to start the week, APE rose to an intraday high of $3.45 earlier in today’s session.

The gain comes as APE broke out of a ceiling at $3.35, resulting in price climbing to its highest point since May 8.

APE has fallen marginally lower from earlier highs, as its RSI failed to overcome a resistance point at 38.00.

At the time of writing, price strength is at the 37.69 mark, with the price now at $3.42.

If bulls are able to break this wall, then there is a good chance that APE could continue its move towards $4.00.

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

What is behind the recent apecoin rally? Let us know your thoughts in the comments.