Biggest Movers: LTC breaks streak, SOL down 7%
Litecoin (LTC) ended a four-day losing streak on Wednesday as its price moved away from recent support points. LTC/USD rose to a high of $95.36 earlier in today’s session, seemingly in less than 24 hours from the low of $92.48. After hitting a definitive low of $91.50 to start the week, Litecoin bulls have recovered somewhat and recovered and if we look at the 10-day (red) moving average and Its 25-day (blue) counterpart is expected to cause a downside crossover. Both the trend lines are now showing an upward trend and this happens when the Relative Strength Index also goes up. The index is now tracking at 50.44 after taking out a floor breakout at 49.00.
Solana (SOL) extended its recent decline as the coin was in the red for the second day in a row. After hitting a high of $25.43 on Tuesday, the coin slipped to a low of $23.38 on the very first day of the session. If we look at the other side of the spectrum, bearish sentiment has increased recently after a false break out of the high range of $26.50 earlier this week. This comes in the form of the Relative Strength Index, which is tracking at 52.58, Now poised to hit long term support point at 50.00 R is Here we can say that a silver lining exists with the 10-day (red) moving average crossing over the 25-day (blue) trend line, which is usually a sign of upward momentum. If this happens, then there is a strong possibility that SOL may move higher above the upper limit of $26.50 in the coming days.
