LTC hits 9-day high as MATIC posts recent losses – market updates
Litecoin rose to a nine-day high earlier in the month, breaking a recent resistance point. The token scaled above $95.00 as the bulls ramped towards $100.00. polygon also recently suffered a streak of bad luck by bouncing off a key base.
Litecoin (LTC)
Litecoin (LTC) climbed to its highest level in over a week on Wednesday after recently breaking a resistance level.
After hitting a low of $93.52 on Tuesday, LTC/USD started March by rallying to a high of $97.93.
This surge sent Litecoin to its strongest point since February and came as prices breached a ceiling of $95.00.
Looking at the chart, one of the catalysts for the move was a break above the relative-strength-index (RSI).
Price strength moved above a ceiling of 53.00 and is currently hovering around the 55.61 level.
The next visible support point seems to be near the 58.00 level and if that is reached there is a strong chance that LTC will rally above $100.00.
Polygon (MATIC)
Additionally, Polygon (MATIC) has recently experienced a losing streak as bulls rejected a breakout of a key price floor.
MATIC/USD hit a high of $1.26 on Wednesday after falling to a low of $1.19 the previous day.
The price jump comes after attempting to move below the $1.18 support after recent downward pressure.
Currently, the 10-day moving average (red) is a stone’s throw from a possible cross with its 25-day counterpart (blue), which has been delayed by today’s rally.
To further delay this action, there will likely need to be another price bounce, with the bulls likely targeting the $1.30 ceiling.
Register your email address here to receive weekly price analysis updates in your inbox:
Do you expect Polygon to hit $1.30 in the coming days? Let us know your thoughts in the comments.
photo credit: Shutterstock, Pixabay, WikiCommons
Source: Crypto News Deutsch
