LTC Rallies to 1-Week High, as UNI Snaps Recent Losses – Market Updates Bitcoin News

Litecoin rallied to a one-week high on Friday, as the token rose for a second consecutive session. The move saw prices climb by close to 8% earlier in the day, and comes as crypto markets mostly traded higher. Uniswap also gained, rebounding from recent losses.

Litecoin (LTC)

Litecoin (LTC) was a notable gainer on Friday, as the token surged by as much as 8% in today’s session.

Following a low of $60.29 on Thursday, LTC/USD raced to an intraday high of $63.61 earlier in the day.

As a result of today’s rally, litecoin moved close to a key resistance level, hitting its highest point since last Friday in the process.

Looking at the chart, prices did not yet collide with the aforementioned ceiling of $64.00, which was last broken ten days ago.

This comes as the 14-day relative strength index (RSI) hit a key resistance level of 57.00, leading earlier bulls to abandon their positions.

As of writing, LTC is now tracking at $62.77.

Uniswap (UNI)

Uniswap (UNI) rebounded in today’s session, snapping a two-day downtrend in the process.

UNI/USD hit a peak of $6.03 earlier in the day, which comes less than 24 hours after hitting a low of $5.74.

This surge comes as bulls rejected a breakout of a floor at $5.70 on Thursday, with the target now seemingly a resistance of $6.50.

In order to recapture this point, UNI traders will first need to overcome an upcoming ceiling on the RSI indicator.

As of writing, the index is tracking at 45.16, which is under its aforementioned resistance of 48.90.

Bulls will likely need to be cautious, as the momentum of the 10-day (red) moving average appears to still be bearish.

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Could we see a shift in momentum for uniswap this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.