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 as we speak’s session, climbing by almost 20% earlier in the day.
Ethereum Traditional (ETC)
ETC was one of the crucial notable gainers throughout Monday’s session, as cryptos have been principally in 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 in the day.
Costs have now risen for 3 consecutive periods as ETC continues to maneuver away from its latest assist degree at $19.50.
ETC/USD – Day by day Chart
Since shifting away from this flooring, costs at the moment are hovering barely under resistance of $24.10, with the RSI additionally at a ceiling.
Wanting on the chart, the Relative Power 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 yr buying and selling above $25, and may it head again in the direction of that time, the RSI ceiling should give method.
Fantom (FTM)
While ETC was one of the crucial notable movers on Monday, FTM was undoubtedly the most important, as costs rose by almost 20%.
FTM/USD rallied to an intraday peak of $0.5183 earlier in the day, which is essentially the most it has traded at since Could 10.
This virtually two-week excessive comes following a rally on the worth flooring of $0.3100 5 days in the past, as FTM was deep in consolidation.
FTM/USD – Day by day Chart
Since then, costs at the moment are nearer to resistance of $0.6000, which is an space costs haven’t hit in the previous two weeks.
Just like ETC, we could not see this ceiling hit except worth energy will increase, nonetheless the RSI can be hovering under a ceiling of its personal.
Merchants will now wait to see if this week will probably be totally different to final, with both bulls or bears taking cost of market course.
Do you anticipate consolidation to proceed this week? Tell us your ideas in the feedback.
Eliman Dambell
Eliman brings a eclectic perspective to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.
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