Litecoin raced to a ten-day high to start the week, as markets returned from the Christmas holiday weekend. The token extended recent gains to start the week, and neared a key resistance point in the process. Xrp was also higher, as it also collided with a price ceiling.
Litecoin (LTC) was one of the notable gainers on Monday, as the token raced to a ten-day high.
LTC/USD rose to a high of $70.83 to start the week, which comes less than a day after hitting a low of $65.54.
Today’s surge has taken litecoin to its highest point since December 16, and closer to a key resistance level of $72.00.
As can be seen from the chart, Monday’s move comes as the 14-day relative strength index (RSI) rose above its own ceiling at 45.00.
The index is currently tracking at 51.79, with the next visible point of support at the 54.00 level.
Should the RSI reach this point, it is highly likely that prices will also collide with a ceiling of $72.00.
XRP, formerly ripple, also moved higher to start the week, as the token collided with a key resistance point.
Following a low of $0.3447, XRP/USD hit a high of $0.356 earlier in today’s session, which is also a recent price ceiling.
Monday’s gain is the highest point that XRP has hit since December 18, and comes as traders returned from the Christmas holiday weekend.
Looking at the chart, this move accompanied a recent move beyond a ceiling on the RSI of 42.00.
As of writing, the index is now tracking at 43.45, which is its strongest point since December 15.
Ultimately, should this trend continue, XRP could continue to move towards the $0.4000 mark.
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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.
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