Litecoin surged by as much as 20% in today’s session, as bulls took the token to its highest level since April. The move came prior to the latest consumer sentiment report from the U.S, which rose to a reading of 64.4. Bitcoin cash climbed to its highest point since April 2022.
Litecoin (LTC)
Litecoin (LTC) rose above $100.00 for the first time since April, as traders seemingly remained bullish on the token following its recent listing on EDX markets.
LTC/USD hit an intraday peak of $102.38 earlier in today’s session, which came following a low of $84.25 the day before.
As a result of the rally, litecoin peaked at its strongest point since April 18, when price reached a top at $103.41.
Today’s move came as bulls were able to break out of a recent resistance level of $98.00, with the relative strength index (RSI) doing similar.
Litecoin’s price strength surged past a ceiling at the 62.00 mark, on its way to a current reading of 65.43.
Should momentum continue, bulls will likely ease pressure closer to an upcoming level of 68.00.
Bitcoin Cash (BCH)
Bitcoin cash (BCH) made significant gains for a second straight session, this time rising by over 20% to end the week.
Following a low of $241.21 on Thursday, BCH/USD raced to an intraday high at $312.77 earlier in the day.
As a result of this latest rally, BCH moved to its strongest point since April 18 last year, when price peaked at $345.00.
Looking at the chart, the latest rally has sent the RSI to a current reading of 86.97, which is significantly overbought.
The 10-day (red) moving average has also made a relatively high leap away from its 25-day (blue) counterpart.
This could signal a potential top, which could be tempting for bears waiting for the perfect time to reenter the market.
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Can bitcoin cash continue this bull run during the weekend? Let us know your thoughts in the comments.