Ethereum classic held near a two-month low on March 6 as a cloud of uncertainty continued to hang over the markets. The global crypto market capitalization remained bearish at the start of the week and is down 0.55% as of this writing. Litecoin also moved lower on Monday.
Classic Ethereal (ETC)
Classic Ethereal (ETC) began the week trading near a two-month low as volatility in the crypto markets remained high.
ETC/USD fell to an intraday low of $19.26 on Monday, a day after trading as high as $20.05.
The move has pushed ethereum classic towards the bottom on Friday at $18.89, which was its weakest since Jan. 6.
Overall, today’s drop has seen ETC they fall for the fifth consecutive session, more than 8% in that period.
Prices are marginally higher than previous lows, which comes as the 14-day RSI hit a bottom at 36.00
At the time of writing, the index is at 36.19, with the next bottom visible at the 30.00 mark, in the event of a breakout.
Litecoin (LTC)
In addition to ethereum classic, litecoin (LTC) was another notable move, as the token fell as much as 4%.
After a high of $91.27 on Sunday, LTC/USD fell to a low of $87.15 during the session on Monday.
As a result of this move, litecoin approached a floor of $86.00, which was last reached on Friday, and also a six-week low.
recent drops in LTC they have come after a lower crossover of the 10-day (red) and 25-day (blue) moving averages.
Adding to this, the RSI is now at 40.47, which is marginally above the support at 40.00.
Despite hovering beyond this floor, the index is at its weakest point since December 24 of last year.
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