Litecoin rose to a three-month high in today’s session, following a breakout of a key resistance level. The move took place prior to the release of U.S. inflation data, which fell to 8.3% in August. However, following the release, which was higher than expected, earlier gains eased. Apecoin also hit a multi-week high in today’s session.
Litecoin (LTC) climbed to a three-month high on Tuesday, as the token moved beyond its $64.50 resistance level.
Following a low of $60.39 to start the week, LTC/USD rallied to an intraday peak of $67.07 in today’s session.
This is the strongest point that litecoin has traded at since June 1, when the token hit a high of $70.50.
Today’s surge in LTC was somewhat short lived, with prices falling below the aforementioned resistance point as the day progressed.
As of writing, litecoin is trading at $63.43, and this comes as the relative strength index (RSI) hit a hurdle of its own.
The index collided with a ceiling of 60.00, which bulls have so far been unable to move beyond, resulting in prices dropping.