• Litecoin (LTC) snapped its four-day losing streak on Feb. 22, rising for the first time since Saturday’s session when prices were above $100.00.
• Solana (SOL) extended its recent declines, falling by as much as 7%.
• Both coins remain subject to technical indicators, with LTC/USD struggling to break a downward crossover of the 10-day and 25-day moving averages, while SOL/USD awaits a potential breakout of a ceiling at $26.50.
Litecoin Snaps Losing Streak
Litecoin (LTC) ended a four-day losing streak on Wednesday, as prices moved away from a recent support zone. LTC/USD rose to an intraday high of $95.36 earlier in today’s session, which comes 24 hours after falling to a low of $92.48. Since hitting a price floor of $91.50 to start the week, litecoin bulls have somewhat resurfaced and delayed what was expected to be an inevitable downward crossover between the 10-day (red) moving average and its 25-day (blue) counterpart; both trend lines now seem to be heading upwards and this comes as the relative strength index (RSI) also climbed and is now tracking at 50.44 after bulls rejected a breakout of a floor at 49.00.
Solana Moves 7% Lower
Solana (SOL), on the other hand, extended its recent declines as the token remained in the red for a second day in succession. Following Tuesday’s high of $25.43, SOL/USD slipped to an intraday bottom of $2338 earlier in today’s session due to bearish sentiment that has risen following false breakout of a ceiling at $$2650 earlier this week; this comes as RSI which is tracking at 52:58 looks set to collide with long term support point at 50:00 . In addition ,the 10-day(red )moving average has crossed over its 25 – day(blue )trend line pointing towards upward momentum should it occur ;this could potentially result in SOL breaching its ceiling at 26:50 in upcoming days .
Price Analysis Update
Cryptocurrency markets traded lower despite litecoin snapping its four – day losing streak .The token rose for the first time since Saturday’s session when prices were above 100:00 while solana extended recent declines ,falling by up 7 % .The tokens remain subject technical indicators with ltc / usd struggling break downward crossover between 10 – day nd 25 – day moving averages while sol /usd awaits potential breakout ceiling 26 : 50 .
RSI Indicators
Relative Strength Index (RSI )remains key indicator both tokens ;for ltc /usd RSI climbed rejecting breakout floor 49 : 00 while for sol / usd RSI tracking 52 : 58 looks set collide long term support point 50 : 00 .