Litecoin hit a nine-day high at the beginning of the month, breaking out of recent resistance points in the process. Litecoin has rallied above $95.00 and is on track to hit the $100.00 mark. Polygon also snapped its recent losing streak by bouncing off a key support point.
Litecoin (LTC)
Litecoin (LTC)
Litecoin (LTC) rose to its highest level in over a week on Wednesday following a recent resistance breakout.
After hitting a low of $93.52 on Tuesday,LTCrallied; LTC/USD rose to a high of $97.93 to start March.
The surge gave Litecoin its strongest showing since February, as the price crossed the $95.00 ceiling.
The chart shows that the breakout of the Relative Strength Index (RSI) was one of the triggers of the move.
Price strength has crossed the 53.00 ceiling and is hovering at the 55.61 level at the time of writing.
The next visible support point appears to be around the 58.00 mark, which, if hit, would likely be aboveLTCwould move above $100.00.
Polygon (MATIC)
Additionally, Polygon (MATIC) also snapped its recent losing streak, with the bulls rejecting a breakout of a key price floor.
MATIC/USD moved to a peak of $1.26 on Wednesday after falling to a bottom of $1.19 the previous day.
Following the recent downward pressure, the price rallied sharply after attempting to move below the $1.18 support.
The 10-day (red) moving average is currently a stone’s throw away from a possible cross with the 25-day (blue) moving average, but has been delayed by today’s rally.
To further delay this action, prices would need to rise another notch, and bulls are likely to target the $1.30 ceiling.
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