Dogecoin saw a reversal of the recent downtrend on Thursday, as the meme coin managed to rally away from key support level. Litecoin was also in the green, as prices approached a one-week high.
Dogecoin (DOGE) was among the top gainers on Thursday, as the meme coin managed to recover from its recent lows. After hitting a low of $0.07283 on Wednesday, DOGE/USD shot up to an intraday high at $0.07736.
The surge was enabled by prices bouncing off the support level at $0.0715. Looking at the chart, the rally was accompanied by the 14-day Relative Strength Index (RSI) peaking at 40.00. The gains have since retracted, with Dogecoin trading at $0.07657 as of writing.
If the current price strength persists, Dogecoin could reach a ceiling of $0.0800.
Litecoin (LTC) was also on the rise, as the token approached a one-week high on Thursday. LTC/USD reached $66.51 earlier in the session, shortly after bottoming out at $65.09 the day before. The high is just below the token’s yearly peak of $66.90, set on Tuesday.