Crypto Market Volatile: ETC Near 2-Month Low, LTC Down 4% on Monday

• Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high.
• Litecoin (LTC) was another notable mover, as the token fell by as much as 4%.
• The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing.

Biggest Movers: ETC Remains Near 2-Month Low

Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high. ETC/USD slipped to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05. The move has pushed ethereum classic towards Friday’s bottom at $18.89, which was its weakest point since January 6. Overall, today’s drop has seen ETC fall for a fifth consecutive session, down by over 8% in that period.

Litecoin Down by 4% on Monday

In addition to ethereum classic, litecoin (LTC) was another notable mover, as the token fell by as much as 4%. Following a high of $91.27 on Sunday, LTC/USD dropped to a bottom at $87.15 during Monday’s session. As a result of this move, litecoin moved closer to a floor at $86.00, which was last hit on Friday and also marked six-week lows for LTC/USD prices.. Recent declines in LTC have come following a downward crossover of the 10-day (red), and 25-day (blue) moving averages with the RSI now tracking at 40.47 – marginally above support at 40.00 – its weakest point since December 24 last year..

Global Crypto Market Cap Bearish

The global crypto market cap remained bearish to start the week and is down 0.55% at the time of writing .This cloud of uncertainty continued to hover over markets with ETHEREUM CLASSIC remaining near its two month low . Similarly , Litecoin also moved lower on Monday with prices hovering beyond their visible floor resulting from five consecutive sessions with declines amounting up 8%.

RSI Collision

At the time of writing ,the index is tracking 36 19 with next visible floor being 30 00 mark in case if breakout occurs . Rsi collision occurred between 36 00 and 36 19 while Ethereum Classic remains near its two month low . Similarly ,RSI for Litecoin is currently tracking 40 47 slightly above 40 00 mark indicating its current weak position compared to December 24 last year .

Conclusion

Overall ,ETHEREUM CLASSIC and LITECOIN faced significant drops due uncertainly looming over global crypto market cap along with bearish movements making them stay close or below their respective floors .Although both coins had volatile performance but RSI indicated that ETHEREUM CLASSIC might have slight advantage over LiteCoin as it stands slightly above 30 00 mark indicating possible recovery from recent downfall .