Tuesday saw Litecoin prices climb by an impressive 15%, because of some news about inflation in the United States. According to the Consumer Price Index, the inflation level dropped from 6.4% to 6% between January and February. Along with Litecoin, Dogecoin also benefited from this news and surged further.
Litecoin (LTC) Reaches All-Time High of $86
On Tuesday, litecoin (LTC) had a big improvement in price by going above $80. The price began the week at $75.20 and then increased to an all-time high of $86.34 during that day. Breaking out of the previous ceiling of $85.00, litecoin’s value has gone up almost by twenty dollars in four days ever since its low of $65.39 on Saturday.
The price of something called LTC has been increasing recently, which caused its 14-day relative strength index (RSI) to reach an all-time high at 49.53. This means that if the increase in price continues, LTC could go up even further and reach $90.00.
Dogecoin Reaching New Heights
Dogecoin (DOGE), which is a type of ‘meme coin’, has been increasing in price for five days in a row. During the day on Tuesday, it reached its highest point of $0.07492, after being traded at a lower price of $0.06866 just one day before. The increase happened because dogecoin surpassed the resistance of $0.0730 which can be seen from the daily chart visuals. Also, the RSI (Relative Strength Index) was higher than usual, meaning that this increase is here to stay.
Right now, price strength is really high at 47.15, and it looks like it’s going to keep going up because the 10-day moving average is looking good. If we keep up this pace, it might reach a ceiling of 50.00 and get to its goal!
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Do you think that this trend will continue until the end of this week? Let us know what you think in the comments section.