The price of Ethereum classic dropped to its lowest level in two months to begin the week. This is despite continued declines in cryptocurrency prices. Uniswap, which hit its weakest point since July, also fell to a multi-month high on Monday. The global crypto market capitalization is now down by 5.08% as of this writing
Ethereum (ETC).
Ethereum Classic (ETC), which fell more than 12% on Monday was among the notable moves.
After a weekend high of $33.41, ETC/USD fell to $27.91 intraday 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.
ETC has risen to $30.00 since the time of writing.
The 14-day relative strength indicator (RSI), which had a short breakout, is now tracking slightly above a support at 40.95.
Uniswap
UNI, like ethereum classical, was in red for the start of the week as well, with the token moving closer to a multimonth low.
Monday saw UNI/USD trading below a $5.50 support point, and prices fell to as low $5.42.
Like ETC, this level is also the lowest UNI achieved since July. But in this instance, the bottom took place on July 11.
As you can see, this led to the RSI reaching a minimum of 36.15. This was used by bears to confirm previous gains.
UNI currently trades higher and prices are close to reaching the support level of $5.50.
This will lead to bullish sentiment returning and traders looking to boost the token’s price to $6.00.
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