Ethereum Classic Price Technical Analysis – ETC/USD Breaks Key Resistance

Key Highlights

  • Ethereum traditional value surged larger and traded above the $14.00 resistance towards the US greenback.
  • There was a break above a key bearish pattern line with resistance at $14.20 on the hourly chart of the ETC/USD pair (Information feed through Kraken).
  • The pair might appropriate just a few factors decrease, however it can more than likely discover help close to $14.10-20.

Ethereum traditional value is again in a optimistic zone towards the US Greenback and Bitcoin. ETC/USD is now positioned effectively above the $14.00 help zone and is poised for extra positive factors.

Ethereum Classic Price Help

After a draw back correction, ETC value discovered help close to the $13.20 stage towards the US greenback. The ETC/USD pair began an upside transfer and broke the $13.80 and $14.00 resistance ranges. It opened the doorways for extra positive factors and the worth settled above $14.00 and the 100 hourly easy shifting common. The talked about upside transfer was optimistic for the reason that value succeeded in clearing the $14.00 barrier.

Extra importantly, there was a break above a key bearish pattern line with resistance at $14.20 on the hourly chart of the ETC/USD pair. The pair traded as excessive as $14.66 and is at present consolidating positive factors. It looks as if there might be a minor draw back correction in the direction of the $14.20 help. An preliminary help is close to the 23.6% Fib retracement stage of the final wave from the $13.27 low to $14.66 excessive. Nevertheless, crucial help is above $14.00 and close to $14.10.

There may be additionally a bullish pattern line with help at $14.20 on the identical chart. On the upside, a break above the $14.66 excessive may clear the trail for a push in the direction of $15.00. Above $15.00, the worth might spike in the direction of the $16.00 stage.

Hourly MACD – The MACD for ETC/USD is shifting properly within the bullish zone.

Hourly RSI – The RSI for ETC/USD is at present correcting decrease from the 70 stage with optimistic indicators.

Main Help Stage – $14.10

Main Resistance Stage – $14.65

 

Charts courtesy – Buying and selling View

About Tom Greenly

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