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.
Sign up your email here to receive weekly price analysis updates in your inbox:
Will this uptrend continue for the rest of the week? Let us know your thoughts in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
