Litecoin edged higher to start the week, despite cryptocurrency markets trading mostly lower on Monday. The global crypto market capitalization is down 0.15% at the time of writing as volatility remains elevated. Chainlink also moved higher in today’s session.
Litecoin (SLD)
Litecoin (SLD) rebounded from a key support point to start the week, as the token rallied, despite Monday’s crypto-red wave.
After a low of $84.92 on Sunday, SLD/USD hit an intraday high of $88.89 earlier in today’s session.
Following the move, Litecoin moved away from its floor price at $86.00 and is now trading at its highest level since last Friday.
From the chart, it appears that the 14-day Relative Strength Index (RSI) has now reached a resistance point at 45.00, leading to SLD give up previous earnings.
At the time of writing, the index sits at 44.33 with Litecoin trading at $88.11.
If price strength breaks above the 45.00 mark, there is a good chance that SLD will be back above $90.00.
Chain link (LINK)
Chainlink (LINK) was also in the green during today’s session, and the token rose 2%.
LINK/USD hit a high of $7.25 to start the week, following a low of $6.92 on Sunday.
Today’s rebound sees LINK pull away from the 3.5-week low recorded over the weekend.
Looking at the chart, this coincides with the RSI rebounding from its own low at 44.00.
Currently, price strength lies at 45.09, with a resistance point at 47.00, a potential target for the bulls.
If it reaches this mark, it is likely that LINK will break above $7.30.
Register your email here to receive weekly price analysis updates delivered to your inbox:
What’s behind today’s bearish sentiment? Let us know your thoughts in the comments.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.