Biggest Movers:  LTC Hits 6-Week High, as LEO Rises for the Ninth Straight Day

Biggest Movers:  LTC Hits 6-Week High, as LEO Rises for the Ninth Straight Day

Litecoin rose to its highest level in over six weeks on Wednesday, as the token moved past a key price ceiling. Today’s move comes despite cryptocurrency markets mostly trading lower, ahead of the Federal Open Market Committee (FOMC) meeting. Unus sed leo (LEO) was also higher, climbing for a ninth consecutive session. Litecoin (LTC)

Litecoin (LTC) rose by as much as 10% on Wednesday, despite cryptocurrency markets mostly trading lower.

Following a low of $54.64 during Tuesday’s session, LTC/USD surged to an intraday peak of $61.89.

The rally sees the token move past a key resistance level of $58.20, hitting its strongest point since mid-September in the process. LTC/USD – Daily Chart

As can be seen from the chart, the 14-day relative strength index has also surged, and is now firmly in overbought territory.

The index is currently tracking at the 69.32 level, which is its highest point since last November.

In addition to this, the 10-day (red) has now continued its uptrend, maintaining its recent crossover with its 25-day (blue) counterpart.

Should this momentum continue, we may see LTC bulls attempt to push the price to a ceiling of $64.40. Unus sed leo (LEO)

Unus sed leo (LEO) extended an impressive run of gains in today’s session, as prices rose for a ninth straight day.

LEO/USD surged to a high of $4.66 earlier today, which comes less than a day after hovering at a low of $4.51.

Like with litecoin above, today’s surge sees LEO move past a key ceiling of $4.55, on its way to a multi-week high. LEO/USD – Daily Chart

Overall, the token is now trading at its highest point since September 23, with the RSI also substantially higher.

The index is currently tracking at 66.14, which is its strongest level in the last two months.

A resistance of 68.00 seems to be the target of current bulls, and if reached, some traders could move to secure previous gains.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, LEO, litecoin, LTC, Unus Sed Leo

Do you expect any significant gains in crypto markets after today’s FOMC meeting? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Drops to 5-Day Low, as Fed Likely to Delay Policy Pivot MARKET UPDATES | 11 hours ago Biggest Movers: DOGE Over 130% Higher in the Last 7 Days MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleWaves School A Crypto Trading Academy Introduces FREE ‘Learn to Earn’ Platform Next articleSolana-Based Lending App Solend Gets Hacked for $1.26 Million in ‘Oracle Attack’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItUAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse

United Arab Emirates (UAE) airliner, Emirates, has announced plans to launch non-fungible tokens (NFT) and experiences in the metaverse for its workers and customers. The launch aligns with UAE"s digital economy and virtual assets initiatives. First Projects Already Underway The ... read more.Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin