Biggest Movers: LTC Back Above $80, DOGE Extends Gains Following Inflation Report

Biggest Movers: LTC Back Above $80, DOGE Extends Gains Following Inflation Report

Litecoin rose by as much as 15% in Tuesday’s session, as markets reacted to the latest inflation report from the United States. Figures from the monthly Consumer Price Index showed that inflation has fallen to 6% in February, down from 6.4%. Dogecoin was also higher on the news, extending recent gains. Litecoin (LTC)

Litecoin (LTC) was once again in the green, as prices of the token rose above $80.00 on Tuesday.

Following a low of $75.20 to start the week, LTC/USD surged to an intraday peak of $86.34 earlier today.

As a result of the move, litecoin has risen to a seven-day high, breaking out of a ceiling at $85.00 in the process. LTC/USD – Daily Chart

Overall, LTC is up nearly $20.00 in the last four days, since dropping to a bottom at $65.39 on Saturday.

The latest rally in price has pushed the 14-day relative strength index (RSI) to a reading of 49.53, which is its highest point since March 2.

This is marginally above a ceiling at 48.00, and should price strength remain beyond this point, LTC bulls will likely attempt to reach $90.00. Dogecoin (DOGE)

In addition to LTC, dogecoin (DOGE) also extended recent gains, with the meme coin climbing for a fifth straight day.

DOGE/USD has risen to an intraday high of $0.07492 earlier on Tuesday, which comes a day after trading at a low of $0.06866.

This rally comes as dogecoin broke out of a recent resistance level at $0.0730, with the RSI also climbing above a ceiling of its own. DOGE/USD – Daily Chart

At the time of writing, price strength is tracking at 47.15, which is well above the aforementioned ceiling at 45.00.

In addition to this, the 10-day (red) moving average is now firmly in an uptrend, with a ceiling of $0.08000 a possible target for bulls.

Price strength is closing in on a ceiling at 50.00. However, should it overcome this point, DOGE could reach its intended target.

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

Will this uptrend continue for the remainder of the week? Let us know your thoughts in the comments. Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Nearing $25,000 as Banks Face Exodus of Deposits MARKET UPDATES | 11 hours ago Stablecoin Trading Dominates Monday"s Crypto Market, Tether and BUSD Sell at Premiums MARKET UPDATES | 1 day ago

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