Crypto news flash: Litecoin explodes by 12%, Bitcoin Cash by 6%, and Ripple’s XRP by 3%

The bulls are back after yesterday’s retracement and this time they have come with a bang. The crypto market is painted in green showing a completely different picture from Monday. Litecoin is leading the recovery with gains in excess of 12%. Similarly, other assets are also correcting higher with gains between 3% and 12%.

Litecoin price overview

Taking a look at the 1-hour LTC/USD chart, we see an incredible reversal from the support at $45.00. The recovery last week failed to break above $50.00 leading to a retracement towards the mentioned support. The current bullish trend has spiked in two candlesticks pulling LTC/USD above $50.00. Moreover, Litecoin has brushed shoulders with $52.00 level but is currently losing ground towards $50.00. It is vital that Litecoin establish support above $50 in order to prevent trimming the gains and focus on higher levels towards $60.00.

Bitcoin Cash (BCH) price overview

Although Bitcoin Cash has added more than 6% to its value, it still remains lethargic below $30 resistance. At present, the asset is trading at $129.05 and supported by both the 100-day Simple Moving Average (SMA) and the 50-day SMA currently at $125. It must correct above $130 for a continued retracement towards $140.

Ripple’s XRP price overview

Just like Bitcoin Cash, XRP has not been able to break above the critical level at $0.32 despite the 3% spike today. The digital asset is currently valued at $0.3153 after it failed to sustain the uptrend above $0.3160. It is unlikely to see XRP/USD break above $0.32 in the coming sessions. However, we can expect it to stay above $0.31 and trade sideways. Besides, the RSI and the stochastic indicators are horizontal in the overbought region to show that the bulls still have the power although they lack enough energy for higher corrections.