Ethereum Classic Price Analysis: ETC/USD Remains in Uptrend

Key Highlights

  • Ethereum traditional value corrected decrease after buying and selling as excessive as $18.37 in opposition to the US greenback.
  • There’s a important bullish pattern line in place with assist at $17.10 on the hourly chart of the ETC/USD pair (Knowledge feed by way of Kraken).
  • The pair is presently holding the pattern line assist at $17.10 and the 100 hourly easy shifting common.

Ethereum traditional value is positioned in a pleasant uptrend in opposition to the US Greenback and Bitcoin. ETC/USD is holding an essential assist above $17.00, which is a optimistic signal.

Ethereum Classic Price Assist

There have been sharp good points in ETC value above the $17.50 resistance in opposition to the US greenback. The ETC/USD pair broke the $18.00 resistance and traded near the $18.40 resistance. A excessive was shaped at $18.37 earlier than the worth began a draw back correction. It declined and broke the $18.00 and $17.50 assist ranges. Nonetheless, the draw back transfer discovered assist close to a key area at $17.10 and the 100 hourly easy shifting common.

Extra importantly, there’s a important bullish pattern line in place with assist at $17.10 on the hourly chart of the ETC/USD pair. It looks as if the pattern line, assist above $17.00 and the 100 hourly SMA are essential for the present wave. The worth bounced again sharply and moved above the $17.40 degree. It additionally broke the 23.6% Fib retracement degree of the final decline from the $18.37 excessive to $17.07 low. The pair is more likely to speed up good points above the $17.50 degree. The following resistance is close to the 50% Fib retracement degree of the final decline from the $18.37 excessive to $17.07 low at $17.72. Above this, the worth may break the $18.00 resistance.

The chart means that the worth stays in an uptrend above $17.00. Any dips are more likely to discover patrons close to the $17.10 degree and the 100 hourly SMA.

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

Hourly RSI – The RSI for ETC/USD simply moved above the 50 degree.

Main Assist Stage – $17.10

Main Resistance Stage – $17.72

About Tom Greenly

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