Biggest Movers: LTC, ETC Rebound on Monday, Despite Bearish Sentiment
Litecoin was back in the green to start the week, despite the crypto market continuing to trend mostly lower. At the time of writing, the global market cap is down 0.59%, following a recent red wave. Ethereum classic also climbed higher on Monday, hitting a four-day high in the process.
Litecoin (LTC) rose for a third consecutive session on Monday, as the token continued to move away from a recent nine-month low.
Following a bottom at $64.33 on Sunday, LTC/USD jumped to an intraday peak of $66.70 earlier in the day.
LTC has mostly been in the green since falling to its lowest point since November, during last week’s session.
As a result of recent bearish momentum, the 14-day relative strength index (RSI) dropped below the 20.00 mark.
Currently, the index is at a reading of 21.13, which is marginally below an upcoming resistance level of 23.00.
If litecoin were to break out of this level, the next price target will likely be $70.00.
Ethereum Classic (ETC)
Additionally, ethereum classic also moved higher to start the week, following a recent drop below a floor at $15.00.
ETC/USD rose to a high of $15.90 earlier in the day, which comes less than 24 hours after trading at a low of $15.38.
Today’s peak sees ethereum classic trade at its highest point since last Thursday, when price was over $16.00.
Price strength on ETC is now hovering around 28.00, with a ceiling of 29.00 the next obstacle to overcome.
Should it rise beyond this hurdle, there is a good chance that ETC will be above $16.00.
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