Litecoin snapped a four-day losing streak on Feb. 22, despite cryptocurrency markets mostly trading lower. The token rose for the first time since Saturday’s session, when prices were above $100.00. On the other hand, solana extended recent declines, falling by as much as 7%.
Biggest Movers: LTC Snaps Losing Streak, SOL Moves 7% Lower
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Litecoin ( LTC)
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.
This has also delayed what many 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.
The index is now tracking at 50.44, after bulls rejected a breakout of a floor at 49.00.
Solana ( SOL)
Solana ( SOL), on the other hand, extended recent declines, as the token remained in the red for a second straight day.
Following a high of $25.43 on Tuesday, SOL/USD slipped to a bottom of $23.38 earlier in the session.
On the other side of the spectrum, recent bearish sentiment has risen following a false breakout of a ceiling at $26.50 earlier this week.
This comes as the RSI, which is tracking at 52.58, now looks set to collide with a long-term support point at 50.00.
A glimmer of hope does exist however, with the 10-day (red) moving average crossing over the 25-day (blue) trend line, which is typically a sign of upward momentum.
Should this happen, there is a strong chance that SOL could move beyond a ceiling at $26.50 in the upcoming days.
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Will solana rebound from its recent losses this week? Let us know your thoughts in the comments.
