Litecoin (LTC) experienced significant gains, surpassing 20% on Friday and reaching its highest level in over a year during the weekend. The surge is attributed to growing momentum surrounding the token’s listing on EDX markets. Meanwhile, Dogecoin (DOGE) also started the day on a strong note.
After touching a low of $91.73 during Friday’s session, LTC/USD soared to an intraday peak of $111.76 earlier today.
LTC/USD – Daily Chart
Following a breakout above the 61.00 level on the relative strength index (RSI), LTC bulls propelled the index beyond another threshold.
This time, the RSI level surpassed 68.00, with price strength peaking at 73.91, marking the highest point since January.
Since then, Litecoin has retraced from today’s peak and is currently trading at $110.17 at the time of writing.
Another noteworthy performer on Saturday was Dogecoin (DOGE), which surged to a three-week high to commence the weekend.
DOGE/USD climbed to a peak of $0.07079 earlier in the day, less than 24 hours after dropping to $0.06264.
DOGE/USD – Daily Chart
As observed from the chart, Saturday’s surge brought Dogecoin into contact with a significant resistance level at $0.07000 before retracing.
Currently, DOGE is trading at $0.06835, with the RSI hovering around the 56.00 mark, slightly above the 55.00 resistance level.
Bulls are likely aiming for a target of $0.0750, although they may face some challenges throughout the weekend in achieving this milestone.
Frequently Asked Questions (FAQs) about cryptocurrency market
What caused Litecoin (LTC) to reach a 15-month high?
Litecoin (LTC) experienced a surge to a 15-month high due to growing momentum surrounding its listing on EDX markets, which generated increased interest and demand for the token.
How did Dogecoin (DOGE) perform recently?
What were the price levels reached by LTC and DOGE?
Litecoin (LTC) rallied from a low of $91.73 to an intraday high of $111.76, marking its strongest point since April 7 of the previous year. On the other hand, Dogecoin (DOGE) climbed to a peak of $0.07079, achieving a nearly 5% increase from its recent low.
What are the key technical indicators for LTC and DOGE?
For Litecoin (LTC), the Relative Strength Index (RSI) broke through the 61.00 and 68.00 levels, reaching a high of 73.91, which is its highest point since January. Dogecoin (DOGE) encountered a key resistance level at $0.07000 before retracing, with the RSI hovering around 56.00, marginally above the 55.00 ceiling.
What are the future targets and challenges for LTC and DOGE?
Bulls in the market have set a target of $0.0750 for Dogecoin (DOGE), but they may face challenges in reaching this milestone during the weekend. Litecoin (LTC) may experience further price fluctuations, and its performance will depend on market dynamics and investor sentiment.
More about cryptocurrency market
- Litecoin (LTC) Official Website
- Dogecoin (DOGE) Official Website
- EDX Markets
- Relative Strength Index (RSI) Explained