Litecoin (LTC)
Litecoin, the second-oldest cryptocurrency in the entire crypto-verse has demonstrated a bullish movement in the latest session.
The data shows that the trading price of LTC had been experiencing a downtrend for a while. The past four trading sessions had been the worst for LTC as the situation was not getting normalized.
The bears were in power and they were testing the resilience of the bulls. Finally, the bulls were able to make it through and they managed to push the trading price of the asset higher.
The bears had continued pounding the LTC and they were able to bring it lower to the support zone. However, the bulls were able to push it away from the support level.
In today’s session, the trading price of LTC moved in the bullish zone. The buyers went on a buying spree and they were able to push its price to an intraday high of $95.36.
Prior to the push, the trading price of the asset was at a low of $92.48 per LTC. However, in a matter of 24-hours, the price of the asset was able to recover and move higher.
Compared to the performance LTC had demonstrated at the start of the week, it is a strong demonstration of buying power by the investors.
When the running week started, the trading price of LTC was at a low of $91.50. However, the bulls have resurfaced after taking a breather from a long-running rally.
The recent push has also helped in moving the RSI higher, over the mid-zone. The investors are glad that they will be looking at another strong rally in the upcoming days.
The RSI for LTC is heading into the bullish zone and if it continues climbing, the trading price of LTC would continue elevating.
To be precise, the relative strength index for LTC is currently residing at 50.44. It has already broken out of the floor level, which was at 49.00.
The next level for the RSI is at 55.00 and if the bulls manage to hit that level, strong rallies will be invoked right away. They will start pushing harder and more investments will come in to support the trend.
Given the momentum that the bulls are able to build, the price of LTC may surge to a high of $95. Going forward, the trading price of LTC may continue getting pushed higher and may cross the $100 obstacle.
Solana (SOL)
On the contrary, Solana has not experienced any strong bullish activity, which is why its value is constantly moving toward decline.
The asset has been witnessing a downtrend and the bulls are not able to push its price higher. The price of the asset has continued declining for the past couple of days and the trend is still red.
On Tuesday, it was recorded that the trading price of Solana was at a high of $25.43. However, as the day transitioned, things started to look more bearish for the asset.
It seems that the investors have lost their drive to support the asset, which is why its price is constantly facing a decline. In today’s session, the value of the asset has dropped to a bottom of $23.38.
A few days back, the value of SOL had managed to cross the $26.50 mark. However, it was short-lived as the price of the asset faced a decline again.
Since then, the price of SOL has kept falling into the bearish zone and the overall sentiments have fallen in the same territory.
The RSI was recently at 52.58 but it is moving closer to hitting the 50.00 line. It means that the bulls have no strength at all and it is the bears running the show.
If the confidence level of the investors keeps waning, the trading price of the asset will continue getting pulled lower.