LTC, ETC 15% Higher, as Crypto Markets Rebound on Monday –…


Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher.

Litecoin (LTC)

Litecoin (LTC) rose by as much as 15% to start the week, as cryptocurrency markets rebounded from recent losses.

LTC/USD surged 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 saw litecoin climb to its strongest point since last 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 – Daily Chart

Looking at the chart, one catalyst of the move appears to be the 14-day relative strength index (RSI), which broke out of a recent resistance point.

As of writing, the index is tracking at 41.05, following a move beyond the aforementioned ceiling at 40.00.

Should momentum continue in this direction, there is a strong chance that LTC bulls will take price to a ceiling at $85.00.

Ethereum Classic (ETC)

In addition to LTC, ethereum classic (ETC) also rebounded from recent lows during Monday’s session.

Following a low of $17.05 on Sunday, ETC/USD raced to a peak of $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, bullish momentum has marginally eased.

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

At the time of writing, ETC/USD is trading at $19.65, which is still nearly 15% higher than yesterday’s bottom.

Overall, it appears that previous bulls have moved to secure gains, as the RSI nears a ceiling of its own at 48.00.

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Will this uptrend continue for the remainder of the week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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