LTC, ETC up 15% as crypto markets rally on Monday – Market Updates
Litecoin was back in the green on March 13 as cryptocurrency markets rallied earlier in the week. The token surged as much as 15% in today’s session, with global cryptomarket capitalization is trading nearly 10% higher. Ethereum classic also moved significantly higher.
Litecoin (LTC)
Litecoin (LTC) is up as much as 15% earlier in the week as cryptocurrency markets recover 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 of the move seems to be the 14-day relative strengthindex (RSI) that recently broke above a resistance point.
As of this writing, the index is hovering around 41.05 after breaching the above 40.00 ceiling.
If the momentum continues in this direction, there is a strong chance that the LTC bulls will take the price to a ceiling of $85.00.
Ethereum Classic (ETC)
Alongside LTC, Ethereum Classic (ETC) also recovered from recent lows during Monday’s session.
After hitting a low of $17.05 on Sunday, ETC/USD raced to a high of $20.20 at the start of the week.
This high has also acted as a resistance point for the past few weeks and since colliding earlier in the day, bullish momentum has weakened slightly.
At the time of writing, ETC/USD is trading at $19.65, which is still almost 15% higher than yesterday’s low.
Overall, it seems that previous bulls were looking to lock in gains as the RSI approaches its own ceiling at 48.00.
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Will this uptrend continue for the rest of the week? Let us know your thoughts in the comments.
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Source: Crypto News Deutsch
