Crypto markets returned to the green on Tuesday as chain link rose to a six-month high in today’s session. Markets were buoyed by better-than-expected growth data from China, with global market capitalization up 0.45% at the time of writiCrypto markets returned to the green on Tuesday as chain link rose to a six-month high in today’s session. Markets were buoyed by better-than-expected growth data from China, with global market capitalization up 0.45% at the time of writing. Litecoin also rose, hitting a two-month high in the process.ng. Litecoin also rose, hitting a two-month high in the process.
Chain Link (LINK)Chain Link (LINK)
Chain Link (LINK) rose to a six-month high on Tuesday Chain Link (LINK) rose to a six-month high on Tuesday as the global crypto market cap rebounded from Monday’s decline.as the global crypto market cap rebounded from Monday’s decline.
LINK/USD rose to an intraday high of LINK/USD rose to an intraday high of $8.66 in today’s session, a day after trading at a low of $7.97.$8.66 in today’s session, a day after trading at a low of $7.97.
Today’s price spike pushed theToday’s price spike pushed the chain link to its highest level since the Nov. 8 peak at $9.48. chain link to its highest level since the Nov. 8 peak at $9.48.
The chart shows that one of the triggers for today’s price spike The chart shows that one of the triggers for today’s price spike was the breakout generated by the Relative Strength Index (RSI).was the breakout generated by the Relative Strength Index (RSI).
At the time of writing, priceAt the time of writing, price strength has crossed the 68.00 ceiling and is tracking at 72.93 strength has crossed the 68.00 ceiling and is tracking at 72.93
This is the This is the strongest reading since February 2021 and could mean a reversal.strongest reading since February 2021 and could mean a reversal.
Litecoin (Litecoin (LTCLTC))
In addition to LINK, Litecoin (In addition to LINK, Litecoin (LTCLTC) moved to multi-month highs in today’s session.) moved to multi-month highs in today’s session.
After a low of $98.11 earlier in the week,After a low of $98.11 earlier in the week,LTCLTC//USD crossed the $100.00 mark, peaking at $102.67 in the process.USD crossed the $100.00 mark, peaking at $102.67 in the process.
As a result of Tuesday’As a result of Tuesday’s price spike, Litecoin hit its highest level since February 16.s price spike, Litecoin hit its highest level since February 16.
which led to a move that LTCwhich led to a move that LTChit a wall on the RSI indicatorhit a wall on the RSI indicator after breaking out of a long-term ceiling at the $101.00 level. after breaking out of a long-term ceiling at the $101.00 level.
This ceiling is at 67.This ceiling is at 67.00, and at the time of this writing, it is up slightly to 67.17.00, and at the time of this writing, it is up slightly to 67.17.
In the event of a complete breakout, the next high thIn the event of a complete breakout, the next high that lite coin bulls will have to overcome is the $105.70 ceiling.at lite coin bulls will have to overcome is the $105.70 ceiling.
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Image CreditsImage Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com..