LINK Soars to 6-Month High and LTC Breaks $100 Barrier: The Big Players in the Crypto Market!

"Chainlink Soars to Six-Month High as Cryptocurrency Markets Rebound on Strong Chinese Growth Data"

Chainlink and Litecoin both saw significant gains in today’s trading session, as the cryptocurrency market bounced back after Monday’s decline. The global market cap rose 0.45% following stronger than expected Chinese growth data. Chainlink (LINK) reached a six-month high, hitting an intraday high of $8.66, up from a low of $7.97 the day before. This is the highest point for LINK since November 8, 2020, when it traded at $9.48. Meanwhile, Litecoin (LTC) also climbed to a two-month high, reaching $102.67 after starting the week at $98.11.

The surge in price for Chainlink was partly due to a breakout on the relative strength index (RSI), with the price strength moving beyond the 68.00 mark and tracking at 72.93, the strongest reading since February 2021. This could indicate a potential reversal in the near future. On the other hand, Litecoin saw a breakout of a long-term ceiling at the $101.00 level, before encountering resistance on the RSI indicator. The index is currently at 67.17, with a ceiling at $105.70 for Litecoin bulls to overcome next.

It remains to be seen whether Litecoin can move above $105.00 in the coming week, but the recent gains for both cryptocurrencies have been welcomed by investors. As always, caution is advised when investing in the volatile cryptocurrency market.

Eliman Dambell, a former director of a London-based brokerage and online trading educator, commented on the recent gains for Chainlink and Litecoin. Dambell now commentates on various asset classes, including crypto, stocks, and FX, while also being a startup founder.

It is important to note that this article is for informational purposes only and not a direct offer or solicitation of an offer to buy or sell any products, services, or companies. does not provide investment, tax, legal, or accounting advice, and readers should exercise caution when investing in the cryptocurrency market.

Martin Reid

Martin Reid

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