Home / Cryptocurrency Daily Price Analysis / Ethereum Classic Price Analysis: ETC/USD Consolidating Above $17

Ethereum Classic Price Analysis: ETC/USD Consolidating Above $17

Key Highlights

  • Ethereum vintage value is conserving a significant reinforce space close to $16.80 in opposition to america buck.
  • There is a momentary ascending channel forming with reinforce at $17.50 at the hourly chart of the ETC/USD pair (Data feed by means of Kraken).
  • The pair might climb upper within the close to time period so long as it remains above the $17.50 reinforce space.

Ethereum vintage value stays supported on dips in opposition to america Dollar and Bitcoin. ETC/USD is more likely to proceed upper if the $17.50 and $17.00 reinforce ranges are intact.

Ethereum Classic Price Support

After a considerable decline, ETC value found buyers above the $16.50 degree in opposition to america buck. The ETC/USD pair lately traded as little as $16.79 prior to it began an upside transfer. Buyers driven the fee above the $17.00 resistance degree. Moreover, there used to be a destroy above the 23.6% Fib retracement degree of the closing drop from the $19.87 prime to $16.79 low.

However, the upside transfer used to be capped by way of the $18.35 degree and the 100 hourly easy shifting reasonable. There may be a momentary ascending channel forming with reinforce at $17.50 at the hourly chart of the ETC/USD pair. The ascending channel development appears to be a duplicate of a prior development, which paved means for losses under $17.00. The present development may produce more gains if the fee stays above $17.00. Buyers want to push the fee above $18.35 and the 50% Fib retracement degree of the closing drop from the $19.87 prime to $16.79 low.

Ethereum Classic Price Analysis ETC USD

The chart means that the fee might slowly transfer upper in opposition to $19.00. Once there’s a right kind shut above the 100 hourly SMA, the fee might boost up features in opposition to the closing swing prime of $19.87. Above this, the following main hurdle for patrons is close to $20.00.

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

Hourly RSI – The RSI for ETC/USD is recently position effectively above the 50 degree.

Major Support Level – $17.00

Major Resistance Level – $18.40

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