Litecoin snapped a four-day losing streak on February 22, despite a mostly downward slide in the cryptocurrency market. The token rose for the first time since Saturday’s session, when its price topped $100. Solana, on the other hand, extended its recent decline, falling as much as 7%.
Litecoin (LTC) ended a four-day losing streak on Wednesday as prices left a recent support zone.
LTC/USD rose to an intraday high of $95.36 early in today’s session, 24 hours after falling to a low of $92.48.
Since hitting a price bottom of $91.50 earlier in the week, Litecoin bulls have resurfaced somewhat.
Also, the inevitable downward crossover of the 10-day (red) and 25-day (blue) moving averages, which many had expected, has been delayed.
Both trend lines are now pointing up and the Relative Strength Index (RSI) is also rising.
The index is now tracking at 50.44 after the bulls rejected a lower breakout at 49.00.
Meanwhile, Solana (SOL) extended its recent decline, with the token in the red for a second straight day.
After hitting a high of $25.43 on Tuesday, SOL/USD fell to a bottom of $23.38 earlier in the session.
Meanwhile, recent bearish sentiment has increased following a false breakout of the $26.50 ceiling earlier this week.
The RSI is hovering at 52.58, as it looks likely to hit a long-term support point at 50.00.
However, a glimmer of hope exists as the 10-day (red) moving average crosses the 25-day (blue) trend line.
In this case, SOL is likely to cross the $26.50 ceiling going forward.
Sign up for email here to get weekly price analysis updates sent to your inbox.
Image credits: Shutterstock, Pixabay, Wiki Commons