Biggest Movers: ETC Remains Near 2-Month Low, LTC Down by 4% on Monday
Ethereum classic remained near a two-month low on March 6, as a cloud of uncertainty continued to hover over markets. The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing. Litecoin also moved lower on Monday. Ethereum Classic (ETC)
Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high.
ETC/USD slipped to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05.
The move has pushed ethereum classic towards Friday’s bottom at $18.89, which was its weakest point since January 6. ETC/USD – Daily Chart
Overall, today’s drop has seen ETC fall for a fifth consecutive session, down by over 8% in that period.
Prices are marginally higher than earlier lows, which comes as the 14-day relative strength index (RSI) collided with a floor at 36.00
At the time of writing, the index is tracking at 36.19, with the next visible floor at the 30.00 mark, in the event of a breakout. Litecoin (LTC)
In addition to ethereum classic, litecoin (LTC) was another notable mover, as the token fell by as much as 4%.
Following a high of $91.27 on Sunday, LTC/USD dropped to a bottom at $87.15 during Monday’s session.
As a result of this move, litecoin moved closer to a floor at $86.00, which was last hit on Friday, and also a six-week low. LTC/USD – Daily Chart
Recent declines in LTC have come following a downward crossover of the 10-day (red), and 25-day (blue) moving averages.
In addition to this, the RSI is now tracking at 40.47, which is marginally above support at 40.00.
Despite hovering beyond this floor, the index is at its weakest point since December 24 last year.
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Do you expect litecoin to rebound in the coming days? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Redemption and Reshuffling: BUSD"s Exit From Top 10 Cryptocurrencies Shakes Market Valuations MARKET UPDATES | 9 hours ago Bitcoin, Ethereum Technical Analysis: Volatility in BTC, ETH Remains High to Start the Week MARKET UPDATES | 10 hours ago
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