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CRYPTO NEWS DESK — 2022-09-19

Biggest Movers: ETC, UNI Slip to 2-Month Lows on Monday


Ethereum classic fell to a two-month low to start the week, as prices in the cryptocurrency market continue to decline. Uniswap also slipped to a multi-month low on Monday, as the token hit its weakest level since July. As of writing, the global crypto market cap is down 5.08% Ethereum Classic (ETC) Ethereum classic (ETC)


Biggest Movers: ETC, UNI Slip to 2-Month Lows on Monday


Ethereum classic fell to a two-month low to start the week, as prices in the cryptocurrency market continue to decline. Uniswap also slipped to a multi-month low on Monday, as the token hit its weakest level since July. As of writing, the global crypto market cap is down 5.08%

Ethereum Classic (ETC)

Ethereum classic (ETC) was one of the most notable movers on Monday, as the token fell by over 12% to start the week. Following a high of $33.41 during the weekend, ETC/USD slipped to an intraday low of $27.91 earlier today. The drop comes less than a week after ethereum classic was trading above $40.00, ahead of last Wednesday's Merge. Monday's drop sees ETC move to its lowest point since July 27, when the token was trading near $24.00. As of writing, earlier price declines have eased, with ETC now back above the $30.00 mark. After a brief breakout, the 14-day relative strength index (RSI) is also tracking marginally above a support of its own at 40.95.

Uniswap (UNI)

Like ethereum classic, UNI was also in the red to start the week, as the token moved closer to a multi-month low. On Monday, UNI/USD found itself trading below a support point of $5.50, with prices falling to as low as $5.42. Similar to ETC, this is the lowest level UNI has hit since July, however in this instance the bottom occurred on July 11. Looking at the chart, the sell-off led to the RSI hitting a floor of 36.15, with bears using this as a signal to secure previous gains. Currently UNI is trading higher, with prices close to climbing above the aforementioned support point of $5.50. Should this happen, bullish sentiment will likely begin to return, with traders likely looking to push the token above $6.00. Register your email here to get weekly price analysis updates sent to your inbox: Will Wednesday's interest rate decision have a big impact on crypto prices? Let us know your thoughts in the comments.

— Eliman Dambell of Bitcoin News - Daily Bitcoin News

Keywords: Market Updates, Analysis, ETC, Ethereum Classic, UNI, Uniswap



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