Ethereum Classic Price Technical Analysis – ETC/USD Could Retest $13

Key Highlights

  • Ethereum traditional value shaped a prime close to the $14.50 degree and declined towards the US greenback.
  • There was a break beneath a significant bullish development line with help at $13.90 on the hourly chart of the ETC/USD pair (Knowledge feed through Kraken).
  • The pair is presently buying and selling nicely beneath the $14.00 degree and the 100 hourly easy transferring common.

Ethereum traditional value declined and moved in a bearish zone towards the US Greenback and Bitcoin. ETC/USD could proceed to maneuver down in the direction of the $13.00 help.

Ethereum Classic Price Development

Earlier this week, there was an upside transfer above the $14.00 degree in ETC value towards the US greenback. The ETC/USD pair succeeded in buying and selling above the $14.20 resistance and examined $14.50. A excessive was shaped at $14.51 earlier than the worth began a draw back transfer. It declined and traded beneath the $14.20 help and the $14.00 deal with to maneuver in a bearish zone.

Moreover, there was a break beneath a significant bullish development line with help at $13.90 on the hourly chart of the ETC/USD pair. The pair additionally traded beneath the $13.50 degree and traded beneath the 100 hourly easy transferring common. A low was shaped at $13.27 earlier than the worth corrected in the direction of the 23.6% Fib retracement degree of the final decline from the $14.51 excessive to $13.27 low. Nonetheless, the upside transfer was capped by the $13.50 degree and the 100 hourly SMA. It looks as if so long as the worth is beneath 100 SMA, it may decline additional in the direction of the subsequent main help at $13.00.

On the upside, a push above $13.50 and 100 hourly SMA is required for a development change. Above 100 SMA, the subsequent hurdle for consumers are at $14.00 and $14.50.

Hourly MACD – The MACD for ETC/USD is about to maneuver again within the bearish zone.

Hourly RSI – The RSI for ETC/USD is transferring decrease in the direction of the 30 degree.

Main Help Stage – $13.00

Main Resistance Stage – $14.00

 

Charts courtesy – Buying and selling View

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