Ethereum Classic Price Technical Analysis – ETC/USD Bullish above $20

Key Highlights

  • Ethereum traditional worth accelerated positive factors and broke the $20 resistance stage towards the US greenback.
  • There are two bullish pattern traces forming with assist at $21.00 and $20.50 on the hourly chart of the ETC/USD pair (Information feed by way of Kraken).
  • The pair stays elevated and it might proceed to maneuver increased above the $22.00 stage.

Ethereum traditional worth is positioned in a stable uptrend towards the US Greenback and Bitcoin. ETC/USD could proceed to maneuver increased and it might take a look at $25.

Ethereum Classic Price Assist

The previous few classes have been tremendous bullish as ETC worth surged from the $18.00 swing low towards the US greenback. The ETC/USD pair traded increased and broke the $20.00 barrier to maneuver right into a bullish zone. It even cleared promote presents close to $21.00 and traded in the direction of $22.00. A excessive was fashioned at $21.91, and it looks like the value stays in a stable uptrend above $20.00.

An preliminary assist is across the 23.6% Fib retracement stage of the final leg from the $19.87 low to $21.91 excessive. Extra importantly, there are two bullish pattern traces forming with assist at $21.00 and $20.50 on the hourly chart of the ETC/USD pair. Under the primary pattern line, the 50% Fib retracement stage of the final leg from the $19.87 low to $21.91 excessive is at $20.89. The talked about $20.90-21.00 space is a major assist because it was a resistance earlier. If the value corrects decrease from the present ranges, the $20.90-21.00 space is more likely to act as a good purchase zone.

The chart factors that the value will most certainly speed up positive factors above $21.91. A break above the $22.00 stage might clear the trail for an acceleration in the direction of the $25.00 stage. An intermediate resistance is near $23.60.

Hourly MACD – The MACD for ETC/USD is gaining momentum within the bullish zone.

Hourly RSI – The RSI for ETC/USD is at the moment close to the overbought ranges.

Main Assist Degree – $20.90

Main Resistance Degree – $22.00

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