Litecoin rose to a seven-month high to start the week, as cryptocurrency markets continued to react to the latest U.S. nonfarm payrolls figures. The token was up for a second consecutive session, climbing to its highest point since May. Shiba inu was also a notable gainer on Monday.

Litecoin (LTC)

Litecoin (LTC) raced to a six-month high on Monday, as the token climbed for a second consecutive session.

Following a low of $75.93 on Sunday, LTC/USD raced to an intraday peak of $83.49 earlier today.

This move saw litecoin climb 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 moved beyond a resistance at the $82.70 mark.

In addition to this, the 14-day relative strength index (RSI) has moved past a ceiling of its own at the 66.00 level.

As 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 moved to a three-week high.

SHIB/USD surged to a high of $0.00001005 to start the week, which comes after it fell to a bottom of $0.000009253 on Sunday.

As a result of today’s gains, shiba inu is now trading at its highest point since November 11, and close to a key resistance point.

SHIB/USD – Daily Chart

SHIB bulls failed to take the token beyond this ceiling at $0.00001010, instead choosing to liquidate earlier positions, and take profits.

Due to this, SHIB has slipped from earlier highs, and as of writing is trading at $0.000009866.

This comes as the RSI nears a resistance level of its own at the 56.00 mark. Currently the index is tracking at 55.39.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story

Do you expect shiba inu to move beyond $0.00001010 in the coming days? 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.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Maximumhorrors.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer