The Relative Strength Index (RSI14) for $LA reached 47.52, emerging from the oversold zone, while the MACD histogram turned positive for the first time since August 18 (+0.0041926). The price returned above the 30-day moving average ($0.3505), which had acted as a resistance level since August 10.
What this means:
Traders interpreted the reversal in RSI and MACD as a classic signal of bullish divergence — selling pressure has weakened despite recent sales. The breakout above the 30-day moving average likely triggered automatic buys for those using moving average crossover strategies.
While Bitcoin (+5.97%) and Ethereum led the overall growth of the crypto market, the 3.37% increase in $LA was below the major assets. This indicates that the price movement of $LA was more related to internal factors than the overall market sentiment, although a positive risk appetite may have provided support.
