Biggest Movers: LTC, SOL Climb to 1-Week Highs on Monday
Solana extended recent gains on Monday, as the token rose to a one-week high, following recent declines. The token dropped below the $20.00 level last week, as a red wave hit cryptocurrency markets. Litecoin was also higher today, climbing by nearly 7%.
Solana (SOL) rose to a one-week high on Monday, as momentum shifted following a recent bear run.
SOL/USD surged to a peak of $21.49 earlier in today’s session., which comes after Sunday’s low of $20.65.
As a result of this rally, solana moved to its strongest point since last Monday, when price was close to $22.00.
One of the catalysts of today’s gains came as the 14-day relative strength index (RSI) broke out of a ceiling at 45.00.
The index is now tracking at 48.31, which is its highest reading in almost ten days of trading.
Should current sentiment extend throughout the week, there is a good chance SOL will near its long-term resistance at $24.00.
Additionally, litecoin (LTC) also moved higher in today’s session, with price climbing by as much as 7%.
Following a low of $81.75 on Sunday, LTC/USD raced to an intraday high of $87.54 earlier in the day.
This jump resulted in the token reaching its highest point since March 6, which is the last time LTC was trading close to the $90.00 mark.
From the chart, a breakout of the RSI has also occurred here, with a ceiling at 51.00 being broken.
At the time of writing, price strength is now at the 54.15 mark, with the next visible point of resistance being 58.00.
There is a strong possibility that litecoin could move above $90.00 in the coming days.
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What is behind today’s surge in price? Let us know your thoughts in the comments.