The overall cryptocurrency market enjoyed upswings as BTC and Ethereum surged to their all-time peaks on November 9. Consequently, alternative coins such as Tron and Litecoin hit their 8-week and 25-week peaks, respectively. Meanwhile, Loopring recorded its ATH.
Loopring and Litecoin displayed bullish outlooks while Tron’s short-term technicals showed fading bullish pressure.
Litecoin bulls catalyzed price rally since September 29 as the alt explore steady upsurges. The P2P digital coin saw a whopping 78% ROI in the last 42 days. With that, LTC buyers accumulated momentum as the crypto saw northwards after keeping away the closest support around the $225-level.
While BTC explored its lifetime highs beyond $68,500, Litecoin witnessed its price hitting a 25-week peak near $274 on November 9. At this publication, the crypto has its value at $270 following an 8.5% surge in the daily price chart. The short-term technicals show buyers’ preference.
The RSI stayed deep inside the overbought region. The indicator surged beyond its resistance and extended its momentum gathering actions. Moreover, the Awesome Oscillator experienced an upside more with green sign bars. Meanwhile, the token has short-term retracement chances, confirmed by the reducing trading volumes and the rising Relative Strength Index.
Tron (TRX) bounced within parallel channels and oscillated in an upswing since September 22. The blockchain network witnessed an almost 35% 6-week ROI. That way, the asset had its price breaching its closest resistance to hit an 8-week peak at $0.11751 on November 9.
While writing these lines, the altcoin stood at $0.11377 following a 7.11% weekly surge. The short-term technicals showed buyers’ preference. However, it showed possibilities of easing bullish momentum. The Relative Strength Index was northbound beyond the overbought level, following a sharp increase in the past day. Such a reading plus Awesome Oscillator’s red signals confirmed short-term retracement. Moreover, the DMIs preferred buying activities but corresponded with the possibility mentioned before.
LRC saw a mammoth rally since October 28. The token witnessed an almost 600% surge in the last 13 days, touching its ATH near $3.1386. Also, LRC entered a price discovery face and continued touching its ATH after breaking out of the bull-pennant.
The northbound Relative Strength Index around the overbought region depicted surging momentum gestures. Moreover, the MACD and Awesome Oscillator showed upsurges, favoring buyers’ activities. Also, the DMI visibly preferred bulls with a high ADX mark. Nevertheless, the overbought RSI case and reducing trading volumes show possible pullbacks in the short-term in the coming future.