{"id":20814,"date":"2023-05-11T15:54:12","date_gmt":"2023-05-11T15:54:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ltc-above-80-00-moving-away-from-6-week-low-market-updates-bitcoin-news\/"},"modified":"2023-05-11T15:54:12","modified_gmt":"2023-05-11T15:54:12","slug":"ltc-above-80-00-moving-away-from-6-week-low-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ltc-above-80-00-moving-away-from-6-week-low-market-updates-bitcoin-news\/","title":{"rendered":"LTC Above $80.00, Moving Away From 6-Week Low\u00a0 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Litecoin was back above $80.00 on Wednesday, as the token climbed away from a recent six-week low. Today\u2019s rise in price sees the cryptocurrency surge for a third straight day, despite recent market volatility. Cardano was also marginally higher.<\/strong><\/p>\n

Litecoin (LTC<\/a>)<\/h2>\n

Litecoin (LTC<\/a>) jumped back above $80.00 earlier in today\u2019s session, as the token continued to move away from recent lows.<\/p>\n

Following yesterday\u2019s low of $78.18, LTC<\/a>\/USD raced to an intraday high of $81.97 on Thursday.<\/p>\n

The surge saw litecoin rise from a recent six-week low of $75.32, which took the cryptocurrency to a breakout of a floor at $77.00.<\/p>\n

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LTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, today\u2019s rally pushed the relative strength index (RSI) towards a resistance level of 39.00.<\/p>\n

At the time of writing, the index is currently tracking at 37.95, with LTC<\/a> falling from earlier highs, and trading at $80.84.<\/p>\n

Bulls in the market are likely targeting a ceiling of $85.00, however there will likely be some hurdles in the form upcoming points of resistance.<\/p>\n

Cardano (ADA<\/a>)<\/h2>\n

Cardano (ADA<\/a>) was also marginally higher, as prices traded close to a key support level on Wednesday.<\/p>\n

ADA<\/a>\/USD hit a high of $0.3727 earlier in the day, which comes following a bottom at $0.3574 during yesterday\u2019s session.<\/p>\n

Thursday\u2019s marginal gain sees cardano climb above a price floor of $0.3580, however earlier momentum has somewhat faded.<\/p>\n

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ADA<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

It appears that gains have eased due to the RSI colliding with a ceiling at the 41.00 mark.<\/p>\n

Price strength is now at the 37.06 level, after failing to break out of the aforementioned resistance.<\/p>\n

ADA<\/a> is now trading at $0.3613, with bearish pressure significantly higher than earlier in the day.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could cardano fall further this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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