Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC)

Litecoin (LTC) surged to a nine-month high on Wednesday, as prices rose past a key resistance level.

LTC/USD hit a peak of $97.73 earlier in today’s session, less than 24 hours after trading at a low of $93.05.

As a result of the surge, litecoin rose to its strongest point since May 5, when prices were at a high of $106.86. LTC/USD – Daily Chart

Looking at the chart, the move took place following a breakout of a ceiling at $95.50, and came as the relative strength index (RSI) collided with a resistance of its own.

As of writing, the index is tracking at 65.96, which is marginally below a resistance level at 66.00.

Since approaching this point, earlier gains have somewhat declined, with LTC now trading at $95.58. Cosmos (ATOM)

Cosmos (ATOM) was another notable mover in today’s session, with the token climbing for a second straight day.

Following a low of $13.15 on Tuesday, ATOM/USD moved to a peak of $13.84 earlier in the day.

Wednesday’s rally saw cosmos move above a ceiling at $13.50, nearing its highest point since November 8 in the process. ATOM/USD – Daily Chart

Whilst this resistance level was broken, the 14-day RSI was approaching one of its own at 66.00.

As of writing, the index is tracking at 61.77, after it bounced from a support point at 58.00

Should this ceiling at 66.00 be hit, it is likely that ATOM could be trading above the $14.00 mark.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, atom, Cosmos, litecoin, LTC

Do you expect cosmos to climb past $14.00 this week? 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 online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH, BTC Marginally Higher Ahead of FOMC Meeting Results MARKET UPDATES | 10 hours ago Biggest Movers: DOGE Hits 8-Week High as Meme Coins Rally on Tuesday MARKET UPDATES | 1 day ago

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