LTC, ETC 15% higher, as crypto markets rebound on Monday – Market Updates Bitcoin News
Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, and the global crypto market cap traded nearly 10% higher. Ethereum classic also moved significantly higher.
Litecoin (LTC)
Litecoin (LTC) surged as much as 15% to start the week, as cryptocurrency markets rebounded from recent losses.
LTC/USD rose to an intraday high of $79.53 earlier in today’s session, less than 24 hours after hitting a low of $68.66.
The move saw litecoin climb to its strongest point since last Friday, when the token peaked at $84.92.
Looking at the chart, a catalyst for the move appears to be the 14-day relative strength index (RSI), which broke out of a recent resistance point.
At the time of writing, the index follows at 41.05, after a move beyond the aforementioned ceiling of 40.00.
Should momentum continue in this direction, there is a strong chance that LTC bulls will take the price to a ceiling of $85.00.
Ethereum Classic (ETC)
In addition to LTC, ethereum classic (ETC) also recovered from recent lows during Monday’s session.
After a low of $17.05 on Sunday, ETC/USD rallied to a high of $20.20 to start the week.
This high has also acted as a resistance point in recent weeks, and since a collision earlier in the day, the bullish momentum has slowed marginally.
At the time of writing, ETC/USD is trading at $19.65, which is still almost 15% higher than yesterday’s low.
Overall, previous bulls appear to have moved to lock in gains, as the RSI approaches a ceiling of its own at 48.00.
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Will this rise continue for the rest of the week? Let us know your thoughts in the comments.
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