LTC Climbs to Highest Level Since May – Bitcoin News Market Updates

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Litecoin hit a seven-month high to start the week as cryptocurrency markets continued to react to the latest U.S. nonfarm payrolls numbers. The token was up for a second straight session, hitting its highest level since May. Shiba inu was also a notable winner on Monday.

Litecoin (LTC)

Litecoin (LTC) hit a six-month high on Monday as the token climbed for a second straight session.

After a low of $75.93 on Sunday, LTC/USD hit an intraday high of $83.49 earlier today.

The move saw Litecoin surge to its strongest point since May 10, when the token was trading at a high of $85.02.

LTC/USD – Daily Chart

Looking at the chart, today’s rally came as the token broke above resistance at the $82.70 mark.

On top of that, the 14-day Relative Strength Index (RSI) broke through its own high at the 66.00 level.

At the time of writing, the index is hovering at the 68.43 point, which is its strongest point since November 24.

Shiba Inu (SHIB)

Shiba inu (SHIB) was another notable gainer on Monday, as the meme coin hit a three-week high.

SHIB/USD hit a high of $0.00001005 to start the week, after dropping to a low of $0.000009253 on Sunday.

Following today’s gains, the shiba inu is now trading at its highest level since November 11 and approaching a key resistance point.

SHIB/USD – Daily Chart

SHIB bulls failed to take the token past that cap at $0.00001010, opting instead to liquidate prior positions and take profits.

Due to this, SHIB has slipped from previous highs and at the time of writing is trading at $0.000009866.

This comes as the RSI approaches its own resistance level at 56.00. Currently, the index stands at 55.39.

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Do you expect the shiba inu to break above $0.00001010 in the next few days? Let us know your thoughts in the comments.

Elie Dambell

Eliman brings an eclectic perspective to market analysis, having previously served as a brokerage director and retail educator. Currently, he acts as a commentator on various asset classes including Crypto, Stocks, and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons

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