ETC rose by over 10% to start out the buying and selling week, as costs rose to a two-week excessive on Monday. FTM additionally noticed its worth improve throughout right now’s session, climbing by practically 20% earlier within the day.
Ethereum Classic (ETC)
ETC was probably the most notable gainers throughout Monday’s session, as cryptos have been largely within the inexperienced to start out the week.
Following a low of $20.56 on Sunday, ETC/USD surged to an intraday peak of $23.65 earlier within the day.
Prices have now risen for 3 consecutive classes as ETC continues to maneuver away from its current help degree at $19.50.
Since transferring away from this ground, costs at the moment are hovering barely beneath resistance of $24.10, with the RSI additionally at a ceiling.
Looking on the chart, the Relative Strength Index is presently monitoring at a resistance level of 45.70, which hasn’t been damaged since early April.
ETC has spent the vast majority of the 12 months buying and selling above $25, and may it head again in direction of that time, the RSI ceiling should give means.
Whilst ETC was probably the most notable movers on Monday, FTM was undoubtedly the most important, as costs rose by practically 20%.
FTM/USD rallied to an intraday peak of $0.5183 earlier within the day, which is probably the most it has traded at since May 10.
This nearly two-week excessive comes following a rally on the worth ground of $0.3100 5 days in the past, as FTM was deep in consolidation.
Since then, costs at the moment are nearer to resistance of $0.6000, which is an space costs haven’t hit previously two weeks.
Similar to ETC, we could not see this ceiling hit until worth energy will increase, nevertheless the RSI can be hovering beneath a ceiling of its personal.
Traders will now wait to see if this week shall be completely different to final, with both bulls or bears taking cost of market path.
Do you count on consolidation to proceed this week? Let us know your ideas within the feedback.