Cryptocurrency markets faced a red wave on Monday, as global crypto market cap dipped marginally. Despite this, Litecoin (LTC) and Chainlink (LINK) managed to move higher in price and start the week off on a more positive note.
LTC/USD received a lifting force in today’s session, as the token raced to an intraday peak of $88.89. This allowed the cryptocurrency to move away from a key point of support at $86.00. Furthermore, it is trading at its highest point since last Friday. Although, its 14-day relative strength index (RSI) was met with resistance at 45.00. At the time of writing, this index is tracking at 44.33 with LTC/USD trading at $88.11. If the token’s strength can surpass this point, a climb above $90.00 is likely.
Similarly, LINK/USD climbed to an intraday high of $7.25 today much to the delight of bulls. This rebound coincided with the RSI bouncing from a floor of its own at the 44.00 mark. Currently, the index is tracking 45.09, with a resistance point looking to be at 47.00. If this mark is achieved, a move above $7.30 is on the cards.
Overall, in spite of the crypto markets tending to the red on Monday, both Litecoin and Chainlink have managed to edge upwards. This is a good sign that the upcoming sessions could be bullish, potentially making up for some of the losses already made this week.
James Wilson
- 2023-04-24
Crypto Markets Edge Higher Despite Monday Losses
Despite global crypto market cap dipping marginally on Monday, Litecoin (LTC) and Chainlink (LINK) have managed to move higher. This could be a sign of bullish sentiments coming in the upcoming sessions, potentially making up for some of the week's losses.
![CandleFocus CryptoMarkets-Litecoin-LTC-Chainlink-LINK](https://images.candlefocus.com/Crypto-Markets-Edge-Higher-Despite-Monday-Losses.jpg)