LTC Breaks Losing Streak, SOL Moves 7% Down – Market Updates
Litecoin had a four-day losing streak on February 22, despite markets for cryptocurrencies mostly traded lower. The token surged for the first time since Saturday’s session when prices were above $100.00. On the other hand extended Solana the recent declines and fell by as much as 7%.
Litecoin (LTC)
Litecoin (LTC) ended a four-day losing streak on Wednesday as prices moved away from a recent support zone.
LTC/USD surged to an intraday high of $95.36 in today’s session, coming 24 hours after crashing to a low of $92.48.
Litecoin bulls have resurfaced somewhat since hitting a price floor of $91.50 earlier in the week.
This has also delayed what many expected to be an inevitable crossover to the downside between the 10-day moving average (red) and its 25-day counterpart (blue).
Both trend lines appear to be heading up now and this is because the relative strengthindex (RSI) is up.
The index is now tracking 50.44 after bulls rejected a breakout of a 49.00 floor.
Solana (SOL)
Solana (SOL), on the other hand, extended recent declines as the token remained in the red for a second straight day.
After hitting a high of $25.43 on Tuesday, SOL/USD slipped to a low of $23.38 at the start of the session.
On the other end of the spectrum, the recent bearish sentiment is rising after a false break above a ceiling of $26.50 earlier this week.
This is as the RSI, which is at 52.58, now looks set to collide with a long-term support point at 50.00.
However, there is a glimmer of hope as the 10-day moving average (red) crosses the 25-day trendline (blue), typically a sign of bullish momentum.
If this happens, there is a strong chance that SOL could breach a ceiling of $26.50 in the coming days.
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Will Solana bounce back from his recent losses this week? Let us know your thoughts in the comments.
photo credit: Shutterstock, Pixabay, WikiCommons
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Source: Crypto News Deutsch
