Crypto Weekend Update: Litecoin (LTC) and Dogecoin (DOGE) Make Gains

Litecoin and Dogecoin made significant gains this weekend. Litecoin surged by over 20% on Friday, setting the stage for more substantial gains. Momentum surrounding its upcoming listing on EDX markets is contributing towards this trend. Meanwhile, Dogecoin also boomed in the cryptocurrency market. A glimpse of these coins’ performances is available in this detailed update.

1. Litecoin (LTC)

Litecoin (LTC), a leading cryptocurrency, was indeed a significant player in the crypto market over the weekend. The coin broke past many of its previous records and hit a multi-month high. Below is a summary of LTC’s performance:

• Friday’s Performance: LTC began the surge from a low of $91.73 on Friday.
• Intraday High: The LTC/USD pair reached an intraday high of $111.76 on Friday itself. This marked the beginning of a rally.
• Peak Success: This rally led the price of Litecoin to reach its highest level since April 7, 2018, when the price was $116.00.
• RSI Levels: The Relative Strength Index (RSI), which is a popular momentum oscillator, broke out of a ceiling at 61.00. It continued to rise and crossed the 68.00 level, peaking at 73.91, the highest since January.
• Current Trading Value: As of writing, Litecoin is trading at $110.17, slightly down from its weekend peak.

LTC/USD – Daily Chart

2. Dogecoin (DOGE)

Dogecoin (DOGE), another prominent cryptocurrency famed as the world’s largest meme coin, also demonstrated a notable upward pattern this weekend. Here’s a rundown of Dogecoin’s performance:

• Leap to a Three-Week High: DOGE began the weekend with a substantial jump, reaching a three-week high.
• Early Morning Rush: The value of DOGE/USD soared to $0.07079 early on Saturday. This marked a significant increase from Friday’s closing value of $0.06264.
• Friday-Saturday Gain: The shift from Friday to Saturday led to an almost 5% growth for Dogecoin, hitting its highest level since June 10.
• Key Resistance Level: Dogecoin collided with a significant resistance level at $0.07000 during Saturday’s surge, before eventually falling lower.
• Moving Averages: The DOGE RSI is currently hovering around the 56.00 mark, which is marginally above a ceiling at 55.00.
• Future Expectations: As per market trends, a target of $0.0750 may remain in vision of the bullish traders.

DOGE/USD – Daily Chart

Both Litecoin and Dogecoin are now trading below their weekend highs. However, the bullish sentiment behind both cryptocurrencies due to recent developments suggests more potential gains down the road. However, achieving those gains doesn’t seem to be an easy task as they will likely face some challenges.