ETC, UNI Fall To 2-Month Lows On Monday – Market Update Bitcoin News

Ethereum Classic fell to a two-month low early in the week as the crypto market continues to fall. Uniswap also fell to a multi-month low on Monday as the token reached its weakest level since July. As of this writing, the global cryptocurrency market capitalization has fallen by 5.08%.

Ethereum Classic (ETC)

Ethereum Classic (ETC) is one of Monday’s most notable moves as the token fell more than 12% earlier in the week.

Following the weekend high of $33.41, ETC/USD fell to an intraday low of $27.91 today.

Less than a week after Ethereum Classic traded above $40.00, the drop preceded last Wednesday’s merge.

Monday’s drop moved ETC to its lowest point since July 27, when the token was trading near $24.00.

At the time of writing, the previous price drop has eased and ETC is now above $30.00.

After a brief breakout, the 14-day Relative Strength Index (RSI) is also slightly above the 40.95 support.

Uniswap (UNI)

Similar to Ethereum Classic, UNI also started the week in the red as the token neared a multi-month low.

On Monday, UNI/USD fell below the $5.50 support point to $5.42.

Similar to ETC, this is the lowest level UNI has hit since July, but the bottom occurred on July 11th in this example.

Looking at the chart, the sell has pushed the RSI to the 36.15 floor, which the bears are using as a signal to secure their previous gains.

Currently, UNI is trading high, with the price trying to break above the aforementioned support point of $5.50.

If this happens, bullish sentiment will likely start to return, and traders will likely push the token above $6.00.

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