Biggest Movers: GRT Hits Highest Point in 9 Months, LTC Snaps Losing Streak
The graph token surged by over 35% so far on Tuesday, as markets continued to be buoyed by the growth of its ecosystem. Since allowing integrations to new blockchains, prices of the indexing protocol’s native token have jumped by over 200% from 2022 lows. Litecoin was also higher today, breaking a three-day losing streak.
The Graph (GRT)
Tuesday saw the graph (GRT) extend its recent bull run, climbing by over 35% in today’s session.
GRT/USD rose to an intraday peak of $0.1848 earlier today, a day after prices hit a low of $0.1278.
As a result of this move, GRT/USD jumped to its strongest point since May 17, last year.
Overall and as of writing, GRT is up by approximately 100.63% in the last seven days, and this comes after bouncing from a support at $0.090.
These gains have resulted in the 14-day relative strength index (RSI) moving deep into overbought territory, with a current reading of 87.03.
Bulls have already moved to secure profits, which has led to GRT falling from its earlier high.
Litecoin (LTC), on the other hand, snapped a three-day losing streak, moving back towards recent highs.
Following a low of $95.57 on Monday, LTC/USD jumped back above $100.00 on Tuesday, hitting a high of $100.13 in the process.
Today’s rebound in price sees litecoin edge towards a resistance level at $101.75, and closer to last Wednesday’s peak of $102.65.
Similar to GRT, this point was the highest point LTC had hit since May, when the token traded above $106.00.
A big part of this is due to the 14-day RSI, which is nearing a ceiling at 66.00, with a current reading of 64.53.
Should price strength reach this point, LTC bulls could abandon previous positions, and instead capture the day’s gains.
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Will the graph and litecoin continue this momentum into Wednesday’s session? Let us know your thoughts in the comments.
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