Sunday, May 19, 2024

LTC, ETC 15% Larger, as Crypto Markets Rebound on Monday – Market Updates Bitcoin Information

Litecoin was again within the inexperienced on March 13, as cryptocurrency markets rebounded to begin the week. The token rose by as a lot as 15% in immediately’s session, with the worldwide crypto market cap buying and selling almost 10% increased. Ethereum traditional additionally moved considerably increased.

Litecoin (LTC)

Litecoin (LTC) rose by as a lot as 15% to begin the week, as cryptocurrency markets rebounded from latest losses.

LTC/USD surged to an intraday excessive of $79.53 earlier in immediately’s session, lower than 24 hours after hitting a low of $68.66.

The transfer noticed litecoin climb to its strongest level since final Friday, when the token was at a peak of $84.92.

Biggest Movers: LTC, ETC 15% Higher, as Crypto Markets Rebound on Monday
LTC/USD – Day by day Chart

Trying on the chart, one catalyst of the transfer seems to be the 14-day relative power index (RSI), which broke out of a latest resistance level.

As of writing, the index is monitoring at 41.05, following a transfer past the aforementioned ceiling at 40.00.

Ought to momentum proceed on this route, there’s a robust probability that LTC bulls will take value to a ceiling at $85.00.

Ethereum Traditional (ETC)

Along with LTC, ethereum traditional (ETC) additionally rebounded from latest lows throughout Monday’s session.

Following a low of $17.05 on Sunday, ETC/USD raced to a peak of $20.20 to begin the week.

This excessive has additionally acted as some extent of resistance in latest weeks, and since a collision earlier within the day, bullish momentum has marginally eased.

Biggest Movers: LTC, ETC 15% Higher, as Crypto Markets Rebound on Monday
ETC/USD – Day by day Chart

On the time of writing, ETC/USD is buying and selling at $19.65, which remains to be almost 15% increased than yesterday’s backside.

General, it seems that earlier bulls have moved to safe beneficial properties, because the RSI nears a ceiling of its personal at 48.00.

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Will this uptrend proceed for the rest of the week? Tell us your ideas within the feedback.

Eliman Dambell

Eliman was beforehand a director of a London-based brokerage, while additionally a web based buying and selling educator. Presently, he commentates on varied asset lessons, together with Crypto, Shares and FX, while additionally a startup founder.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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