September 24, 2022

Ethereum Classic dropped to a two-month low at the start of the week as the price continues to slide in the crypto market. Uniswap also slipped to a multi-month low on Monday, as the coin hit its weakest level since July. As of writing, the global crypto market cap is down 5.08%

Ethereum Classic (e.t.c,

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Ethereum Classic (e.t.c) was one of the most notable movers on Monday, as the coin lost over 12% at the start of the week.

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After a high of $33.41 during the weekend, e.t.c/USD slipped to an intraday low of $27.91 earlier today.

Ethereum Classic was trading above $40.00 prior to last Wednesday’s merge, its decline in less than a week.

Biggest movers: ETC, UNI slip to 2-month lows on Monday
e.t.c/ USD – Daily chart

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monday sees drop e.t.c The move moved to its lowest point since July 27, when the coin was trading near $24.00.

As of writing, the earlier price drop has eased, with e.t.c Now back above the $30.00 mark.

After a brief breakout, the 14-day Relative Strength Index (RSI) is also tracking slightly above its own support 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 the $5.50 support point, with prices as low as $5.42.

similar to e.t.cThis is UNI’s lowest level since July, but the lowest level in this case came on July 11.

Biggest movers: ETC, UNI slip to 2-month lows on Monday
UNI/USD – Daily Chart

Looking at the charts, a sell-off caused the RSI to rise to the 36.15 level, with the bears using this as a signal to secure previous gains.

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UNI is currently trading higher, the price is close to climb above the above support point of $5.50.

If this happens, the bullish sentiment could start to return, and traders are likely to push the coin above $6.00.

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Will Wednesday’s interest rate decision have a big impact on crypto prices? Let us know your thoughts in the comments.

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