Businessnewshubb
Advertisement
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
Businessnewshubb
No Result
View All Result
Home Markets

ETC Moves Away From Multi-Month Lows, as XMR Extends Recent Gains – Market Updates Bitcoin News

December 21, 2022


Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.

Ethereum Classic (ETC)

Ethereum classic (ETC) rose for a second straight day on Wednesday, as markets responded to better-than-expected U.S. consumer confidence data.

Today’s figures, which were initially expected to come in at 101, came in higher than anticipated, with a reading of 108.3 in December.

As a result of today’s data, ETC/USD raced to a peak of $16.64 earlier in the day, which is nearly 5% higher than Tuesday’s low at $15.59.

Biggest Movers: ETC Moves Away From Multi-Month Lows, as XMR Extends Recent Gains
ETC/USD – Daily Chart

Looking at the chart, the move came as price continued to move away from Monday’s bottom of $14.74, which was the lowest point ETC had hit since July.

The surge coincided with the 14-day relative strength index (RSI) climbing from a floor of its own at 28.00, and it is currently tracking at 37.61.

The index now seems set to collide with a resistance at 41.00, which could mean that prices will begin to decline.

Monero (XMR)

Monero (XMR) was another notable gainer in today’s session, as prices surged for a fifth straight day.

Following a low of $146.31 on Tuesday, XMR/USD surged to an intraday high of $148.16 earlier in the day.

Wednesday’s move now puts monero at its highest point since Friday, with the token closing in on a resistance level at $150.00.

Biggest Movers: ETC Moves Away From Multi-Month Lows, as XMR Extends Recent Gains
XMR/USD – Daily Chart

From the chart, the move comes as the RSI rose above a resistance level of 54.00, and it is currently tracking at 55.88.

Despite recent bullish sentiment, the 10-day (red) moving average now looks set to crossover with its 25-day (blue) counterpart.

Should this move take place, then XMR will likely move towards a floor around the $139 region.

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

Could bullish momentum continue throughout the 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.

More Popular News

In Case You Missed It





Source link

Previous Post

Magic Eden exec sees NFT gaming like the ‘early days of mobile gaming’ • TechCrunch

Next Post

Prop-tech Homesfy Realty Opens IPO

Next Post

Prop-tech Homesfy Realty Opens IPO

Payments Canada pens open letter to Minister of Finance to expand organization’s membership eligibility

Tesla said to be conducting a fresh round of layoffs next quarter • TechCrunch

3 FTX Execs Have Snitched on SBF, Now Scrutiny Is Aimed at Nishad Singh and Ramnik Arora – Bitcoin News

Compensation and Your Small Business » Succeed As Your Own Boss

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Can 4 activist investors play nice in the Salesforce sandbox? • TechCrunch

by admin
February 3, 2023

Salesforce finds itself in a rather unusual situation, with four activist investors operating inside the company at the same time:...

Shopify invests in US-based e-commerce analytics aggregator Triple Whale

by admin
February 3, 2023

Triple Whale helps Shopify merchants unify business metrics into one dashboard. Shopify has made an investment into United States-based Triple...

DOJ-Appointed US Trustee Objects to Subpoena Request in FTX Bankruptcy Case – Bitcoin News

by admin
February 3, 2023

Following a request from FTX lawyers to subpoena FTX co-founder Sam Bankman-Fried (SBF) and members of his family, the U.S....

Apple, Google and Amazon post disappointing results as tech giants face gloomy economic outlook

by admin
February 3, 2023

Apple, Amazon and Alphabet all posted disappointing quarterly results this week, while Facebook parent Meta bucked the gloomy trend in...

business-news-hubb-white

© 2022 Business News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Categories

  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

Newsletter Sign Up.

No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

© 2022 Business News Hubb All rights reserved.