Litecoin rose as much as 15% during Tuesday’s session as the market reacted to the latest inflation report from the United States. According to monthly Consumer Price Index figures, inflation fell from 6.4% to 6% in February; Dogecoin also rallied on the news, extending its recent gains.
Litecoin (LTC
Litecoin (LTC) was green again as the token’s price rose above $80.00 on Tuesday.
After a low of $75.20 earlier in the week,LTC/USD surged to an intraday peak of $86.34 earlier today.
As a result of this move, Litecoin rallied to a 7-day high, breaking through the $85.00 ceiling in the process.
Overall,LTChas gained nearly $20.00 in the last four days since bottoming at $65.39 on Saturday.
This price increase has brought the 14-day Relative Strength Index (RSI) to 49.53, its highest level since March 2.
This is just above the 48.00 ceiling, and if price continues to move above here,the LTCbulls will likely attempt to reach $90.00.
Dogecoin (DOGE)
In addition to LTC, dogecoin (DOGE) also extended its recent gains, giving the meme coin a fifth straight day of gains.
DOGE/USD rose to an intraday high of $0.07492 early Tuesday morning, a day after trading at a low of $0.06866.
This rise is due to dogecoin breaking out of its recent resistance level of $0.0730 and the RSI also surpassing its own ceiling.
At the time of this writing, price strength is at 47.15, well above the aforementioned ceiling of 45.00.
In addition to this, the 10-day (red) moving average is currently in a solid uptrend, with a ceiling of $0.08000 as a possible target for the bulls.
Price strength is closing in on the 50.00 ceiling. However, if we can get past this point, DOGE could reach its intended target.
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