ETC Soars as XMR Extends Recent Gains – Crypto Market Update


After positive US consumer confidence data was released, Ethereum Classic (ETC) soared on Wednesday while Monero (XMR) extended its recent gains. The figures revealed the confidence level of US consumers had risen to its highest level in eight months with a reading of 108.3.

Ethereum Classic (ETC)

Ethereum Classic (ETC) experienced a surge for the second day in succession on Wednesday as the markets responded positively to the US consumer confidence data.

The figures, which were predicted to reach 101, were higher than initially expected, reaching a reading of 108.3. This month’s data saw ETC/USD reach a record high of $16.64 today, which was almost 5% higher than the previous day’s low of $15.59.

ETC/USD – Daily Chart

At the time of writing, the chart shows that the price has moved away from the previous low of $14.74, which was ETC’s lowest point since July 1994. The 14-day RSI reached a high of 38.00 from a low point at 28.00, and currently stands at 37.61. It is likely that the index will reach resistance at 41.00, indicating that prices may begin to fall.

Monero (XMR)

Monero (XMR) was another notable gainer, with prices increasing for the fifth consecutive day. Following a low price of $146.31 on Tuesday, XMR/USD reached an intraday high of $148.16 earlier today. Wednesday’s move now puts Monero’s highest point since Friday 2005 at $150.00 resistance.

Bigger Moves: ETC Turns Off Multi-Month Lows as XMR Extends Recent Gains

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