ETC, UNI slip to 2-month low on Monday – Market Updates Bitcoin News
Ethereum classic fell to a two-month low to start the week, as prices in the cryptocurrency market continue to slide. Uniswap also fell to a multi-month low on Monday, as the token hit its weakest level since July. At the time of writing, the global crypto market cap is down 5.08%
Ethereum Classic (ETC)
Ethereum classic (ETC) was one of the most notable movers on Monday, as the token fell over 12% to start the week.
After peaking at $33.41 over the weekend, ETC/USD fell to an intraday low of $27.91 earlier today.
The drop comes less than a week after ethereum classic traded above $40.00, before last Wednesday’s rally.
Monday’s drop sees ETC move to its lowest point since July 27, when the token traded near $24.00.
At the time of writing, previous price declines have abated, with ETC now back above the $30.00 mark.
After a brief breakout, the 14-day relative strength index (RSI) is also following marginally above its own support at 40.95.
Uniswap (UNI)
Like ethereum classic, UNI was also in the red to start the week, as the token neared a multi-month low.
On Monday, UNI/USD found itself trading below a support point at $5.50, with prices falling as low as $5.42.
Like ETC, this is the lowest level UNI has hit since July, but in this case, the bottom occurred on July 11.
Looking at the chart, the selling led to the RSI hitting a floor of 36.15, with bears using this as a signal to secure previous gains.
Currently, UNI is trading higher, with prices close to climbing above the aforementioned support point of $5.50.
Should this happen, bullish sentiment is likely to begin to return, with traders likely looking to push the token above $6.00.
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