Biggest Movers: LTC, SOL Climb to 1-Week Highs on Monday

Solana extended recent gains on Monday, as the token rose to a one-week high, following recent declines. The token dropped below the $20.00 level last week, as a red wave hit cryptocurrency markets. Litecoin was also higher today, climbing by nearly 7%.

Timeline of Litecoin, Solana

Solana Price Analysis: On May 12th, the Solana price rebounded from the $19.7 support with a famous bullish reversal candle pattern called the tweezer bottom. This reversal candle surged the prices by 8.5% in the last four days, where it will hit the resistance trendline of a falling wedge pattern.

As Litecoin approaches its third halving, analysis shows this to be its most pivotal to date. Litecoin halving A recent tweet thread from Alex of crypto proprietary trading firm Scimitar Capital posed the question of “whether Litecoin even needs to exist anymore.

The digital currency ecosystem is seeing a definitive recovery today as Bitcoin (BTC) and most altcoins are in the green. Litecoin (LTC) is among the protocols seeing an impressive price jump today after it printed a 7% upsurge to pare off some of the losses it has incurred in the past week.

While the broader cryptocurrency market has come under selling pressure, the Litecoin (LTC) price has shot up by more than 7.59% in the last 24 hours and is currently trading at $87.05 with a market cap of $6.3 billion. Litecoin has participated in the crypto market rally this year and shot past $100 twice in

Solana rose by as much as 5% in today's session, as cryptocurrencies began to recover from Friday's red wave. The global market cap was up by nearly 2% at the time of writing. Chainlink also rose, moving back above a key resistance level. Solana (SOL) Solana (SOL) moved back above the $20.

Popular Bitcoin hard fork and one of the earliest cryptocurrencies, Litecoin (LTC), have recorded some interesting network activity in recent times. According to data from the on-chain analytics platform, Santiment, the number of daily active network addresses on Litecoin has increased by over 400,000 since the start of May.

Santiment on-chain data aggregator has reminded the community about the upcoming halving of Litecoin, which will take place in August this year. Halving is a programmed event after which proof-of-work miners begin to create half the number of coins and their rewards also drop by half.

Solana (SOL), a high-performance blockchain platform, may have a surprise in store for its token holders. Despite the ongoing market downturn and the lack of significant news surrounding the project, there are indications that an unexpected reversal could be on the horizon for SOL.

The Solana price has remained in a correction phase for nearly a month now. Amid this downfall, the coin price plunged from the peak of $26.1 to the current price of $20.43, recording a loss of 24.15.

In a country shaken by years of political volatility, Peru's national currency has emerged as a mainstay of relative stability among Latin American foreign exchange markets, reaching its strongest level in a year this week.