Litecoin was back in the green on March 13, as cryptocurrency markets rallied to start the week. The token rose 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) rose as much as 15% at the start of 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 sent litecoin to its strongest point since last Friday, when the token peaked at $84.92.
Looking at the chart, one catalyst for the move appears to be the 14-day RSI, which broke through a recent resistance point.
At time of writing, the index is at 41.05, after a move beyond the previously mentioned top at 40.00.
If the momentum continues in this direction, there is a high probability that LTC the bulls will take the price to a ceiling of $85.00.
Classic Ethereal (ETC)
In addition to LTCethereum classic (ETC) also rallied from the recent lows during the session on Monday.
After a minimum of $17.05 on Sunday, ETC/USD peaked at $20.20 to start the week.
This high has also acted as a point of resistance in recent weeks, and since a collision earlier in the day, the bullish momentum has eased marginally.
At the time of writing, ETC/USD is trading at $19.65, which is still almost 15% higher than yesterday’s low.
Overall, it looks like previous bulls have moved in to lock in gains as the RSI approaches its own top 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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