LTC, ETC 15% Higher as Crypto Markets Rebound Monday – Bitcoin News Market Updates

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Litecoin was back in the green on March 13 as cryptocurrency markets rebounded to start the week. The token is up 15% during today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum Classic has also risen significantly.

Litecoin (LTC)

Litecoin (LTC) rose 15% at the start of the week as cryptocurrency markets rebounded from recent losses.

LTC/USD hit 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 surge to its strongest point since last Friday, when the token hit a high of $84.92.

LTC/USD – Daily Chart

Looking at the chart, one of the catalysts for the move appears to be the 14-day Relative Strength Index (RSI), which broke out from a recent resistance point.

At the time of writing, the index stands at 41.05, after a move past the aforementioned high at 40.00.

If the momentum continues in this direction, there is a good chance that the LTC bulls will take the price to a high of $85.00.

Ethereum Classic (ETC)

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

After a low of $17.05 on Sunday, ETC/USD hit a high of $20.20 to start the week.

This top has also acted as a resistance point for the past few weeks, and since colliding earlier today, the bullish momentum has eased slightly.

ETC/USD – Daily Chart

As of this writing, ETC/USD is trading at $19.65, which is still nearly 15% higher than yesterday’s low.

Overall, it looks like the previous bulls have moved to secure gains, as the RSI approaches its own high 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.

Elie Dambell

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

Image credits: Shutterstock, Pixabay, Wiki Commons

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