Litecoin returned to the blue on March 13 as the cryptocurrency market recovered to start the week. The token is up 15% in today’s session, and the global cryptocurrency market cap is up nearly 10%. Ethereum Classic also rose significantly.
Litecoin (LTC) surged up to 15% earlier in the week as the cryptocurrency market recovered from recent losses.
Less than 24 hours after reaching a low of $68.66, the LTC/USD surged to an intraday high of $79.53 early in today’s session.
The move pushed Litecoin to its strongest point since last Friday, when the token peaked at $84.92.
Looking at the charts, one of the catalysts for the move appears to be the 14-day Relative Strength Index (RSI) that broke through the recent resistance point.
As of this writing, the index is tracking at 41.05, moving past the aforementioned 40.00 ceiling.
If this momentum continues, the LTC bulls are likely to hit the $85.00 cap.
Ethereum Classic (ETC)
In addition to LTC, Ethereum Classic (ETC) also rebounded from recent lows during Monday’s session.
Following Sunday’s low of $17.05, ETC/USD raced to a peak of $20.20 to start the week.
This high has also acted as a resistance point in recent weeks, with bullish momentum easing slightly since the crash earlier in the day.
As of this writing, ETC/USD is trading at $19.65, nearly 15% higher than yesterday’s low.
Overall, the bulls so far seem to be moving to secure profits as the RSI approaches the 48.00 ceiling.
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Will this uptrend continue all week? Let us know your thoughts in the comments.
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