LTC Hits 9-Day High, As MATIC Snaps Recent Losses – Market Updates Bitcoin News
Litecoin rose to a nine-day high to start the month, breaking out of a recent resistance point in the process. The token climbed past the $95.00 level as bulls chased the $100.00 mark. Polygon also snapped a recent losing streak by bouncing from a key support point.
Litecoin (LTC)
Litecoin (LTC) climbed to its highest point in over a week on Wednesday, following a breakout of a recent resistance level.
After a low of $93.52 on Tuesday, LTC/USD started the month of March climbing to a high of $97.93.
This surge sent litecoin to its strongest point since February and came as prices moved past a ceiling of $95.00.
Looking at the chart, one of the catalysts for the move was a breakout of the Relative Strength Index (RSI).
Price strength moved above a ceiling at 53.00, and is currently tracking at the 55.61 level.
The next visible support point appears to be near the 58.00 mark and should this be hit, there is a high chance that LTC will move above $100.00.
Polygon (MATIC)
In addition, Polygon (MATIC) also snapped a recent losing streak as bulls rejected a breakout of a key price floor.
MATIC/USD moved to a high of $1.26 on Wednesday, after falling to a low of $1.19 the previous day.
The price jump comes after an attempt to move below the support at $1.18, following recent downward pressure.
Currently, the 10-day (red) moving average is a stone’s throw away from a potential cross with its 25-day (blue) counterpart, which has been delayed by today’s rally.
To further delay this action, another bounce in price is likely to be needed, with bulls likely to target the $1.30 ceiling.
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Do you expect the polygon to reach $1.30 in the coming days? Let us know your thoughts in the comments.
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