DOGE Hits 9-Day High as LTC Climbs 6% on Saturday – Market Updates Bitcoin News
Dogecoin rose to its highest point in over a week, as Elon Musk asked for a lawsuit filed against him by investors in the meme coin to be dropped. The suit alleges that Musk ran a pyramid scheme, following his endorsement of dogecoin. Litecoin was another token to climb on Saturday.
Dogecoin (DOGE)
Dogecoin (DOGE) climbed higher on Saturday after lawyers for Elon Musk asked for a lawsuit filed against him by investors in the meme coin to be dismissed.
In a statement, Musk’s lawyers said: “There is nothing illegal about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to have a market cap of nearly $10 billion.”
After a low of $0.07456 on Friday, DOGE/USD rallied to a high of $0.07841 to start the weekend.
As a result of the move, the meme coin marginally breaks out of a long-term ceiling of $0.0780.
This came when the relative strength index (RSI) also briefly moved past its own resistance of 52.00
At the time of writing, the index now follows 51.99, with previous rises in DOGE having mostly eased.
Litecoin (LTC)
Litecoin (LTC) was another notable gainer to start the weekend, as the token also neared a weekly high.
LTC/USD rose to an intraday high of $93.85, less than 24 hours after prices traded as low as $88.34.
This rally sent litecoin to its strongest point since last Sunday, March 26, when it rose to a high of $94.92.
Looking at the chart, today’s gains pushed LTC close to a resistance point at $94.00, but bulls have so far been unable to force a breakout.
This is likely due to the 14-day RSI hovering near a ceiling of its own, at the 57.00 mark.
Should bulls move beyond this point, then there is a good chance that LTC will move above $94.00.
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Do you expect Litecoin to extend this rally further into the weekend? Let us know your thoughts in the comments.
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