4u Created
Image default
Crypto

ETC, NEAR at 3-Month Lows on Tuesday – Market Updates Bitcoin News


Ethereum classic remained close to a three-month low in today’s session, as the token continued to extend recent declines. The token is now trading almost 15% lower in the last seven days. Near protocol was also lower, with it also falling to its lowest point since July.

Ethereum Classic (ETC)

Ethereum classic (ETC) continued to trade close to a three-month low on Tuesday, after hitting this mark to start the week.

Yesterday, the token hit a three-month low of $23.10, and 24 hours later, prices remain near this point.

Following a move to a high of $24.31 earlier today, ETC/USD once again moved lower, dropping to a bottom of $23.73 in the process.

Biggest Movers: ETC, NEAR at 3-Month Lows on Tuesday
ETC/USD – Daily Chart

This week’s low saw ETC move below a key floor of $23.20, which has been in place since mid-July.

In addition to price, the 14-day relative strength index (RSI) has also hit a multi-month low following the bear run.

For traders looking to buy the dip, this is potentially a positive sign, as we are firmly in bearish territory, and could eventually see bulls choose to reenter the market at this point.

Near Protocol (NEAR)

Near protocol (NEAR) was another notable mover on Tuesday, as the token also hit a three-month low.

Following a high of $3.54 to start the week, NEAR/USD slipped, dropping to an intraday low of $3.12 earlier today.

This sell-off pushed the token to its lowest point since July 13, which is the last time prices were trading at a support of $3.00.

Biggest Movers: ETC, NEAR at 3-Month Lows on Tuesday
NEAR/USD – Daily Chart

Looking at the chart, the RSI is now also oversold, and is currently tracking at 31.15 as of writing.

Historically, at current levels, bulls typically begin to circle, looking for an opportune moment to buy.

We’ve seen some signs of this already, with NEAR now moving away from earlier lows, and trading at $3.19 as of writing.

Register your email here to get weekly price analysis updates sent to your inbox:

Could we see near protocol extend its bear run this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

Related posts

Indian Government Working on How GST Tax Could Be Applied to Crypto – Taxes Bitcoin News

Ethereum Wallet Metamask Adds Bank-to-Crypto Transfers via Sardine – Wallets Bitcoin News

JPMorgan, DBS Bank, SBI Complete Live Defi Trades on Public Blockchain – Regulation Bitcoin News