ETC Remains Near 2-Month Low, LTC Down 4% Monday – Market Updates Bitcoin News

Ethereum classic remained 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 was down 0.55% at the time of writing. Litecoin was also lower on Monday.

Ethereum Classic (DR)

Ethereum classic (DR) started the week trading near a two-month low as volatility in crypto markets remains high.

DR/USD fell to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05.

The move pushed ethereum classic to Friday’s low of $18.89, which was its weakest point since January 6.

Biggest players: ETC remains near 2-month low, LTC down 4% on Monday
DR/USD – Daily chart

Overall, today is down DR fell for a fifth straight session, falling more than 8% during that period.

Prices are marginally higher than previous lows, which comes after the 14-day Relative Strength Index (RSI) bottomed at 36.00

At the time of writing, the index is tracking at 36.19, with the next visible floor at the 30.00 mark, in case of a breakout.

Litecoin (LTC)

In addition to ethereum classic, litecoin (LTC) was another notable mover 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 Monday session.

As a result of this move, Litecoin moved closer to the low of $86.00, which was last reached on Friday and also a six-week low.

Biggest players: ETC remains near 2-month low, LTC down 4% on Monday
LTC/USD – Daily chart

Recent declines in LTC came after a bearish crossover of the 10-day (red) and 25-day (blue) moving averages.

In addition to this, the RSI is now being tracked at 40.47, which is just above the support at 40.00.

Despite moving above this threshold, the index is at its weakest point since December 24 last year.

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Elliman Dumbell

Elliman was previously a director of a London-based brokerage, while also teaching online trading. He currently comments on a variety of asset classes including crypto, equities and FX, while also being a startup founder.

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