Bitcoin

LTC up 12%, Hitting a 3-Week High – Market Updates Bitcoin News

November 22, 2022

Litecoin rallied to a three-week high on Nov. 22, despite the global cryptocurrency market cap mostly residing in the red. As of writing, the crypto market is down 1.11%, however, litecoin is up by over 12%. Another notable gainer has been chainlink, which rose for a second straight session.

Litecoin (LTC)

Litecoin (LTC) was a big mover on Tuesday, as the token rose by as much as 12% earlier in the session.

Following a low of $60.04 to start the week, LTC/USD raced to an intraday peak of $68.36 today.

The surge in price sent the token to its highest level since November 7, when price was at $73.00.

Looking at the chart, today’s rally also comes as LTC moved past a key resistance point of $64.50.

In addition to this, the 14-day relative strength index (RSI) broke out of a ceiling of its own at 61.00, and is currently tracking at 62.01.

Bulls will likely look to maintain this current momentum, with a target of $70.00 a potential exit point.

Chainlink (LINK)

Chainlink (LINK) was another notable mover in today’s session, with prices moving higher for a second straight session.

LINK/USD moved to a peak of $6.29 earlier in the day, which comes less than 24 hours after residing at a low of $5.58.

The move saw the token continue to move away from a recent floor of $5.85, on its way to a five-day high.

As of writing, LINK is trading over 7% higher, with bullish momentum gaining, following a breakout of a key ceiling on the RSI indicator.

The index is currently tracking at 45.31, which is marginally above the aforementioned ceiling of 44.00.

Traders now seem to be targeting a ceiling of $6.50, a level that hasn’t been hit since November 16.

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

Could we see chainlink move beyond $6.50 in the coming days? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.