Ethereum classic price traded higher recaently and moved over the $17.00 barrier against the US dollar.
There is a pivotal bullish pattern line framed with support at $16.80 on the hourly outline of the ETC/USD combine (Data feed by means of Kraken).
The combine is right now amending lower, yet it stays supported over the $16.80-17.00 levels.
Ethereum classic price moved into a bullish zone against the US Dollar and Bitcoin. ETC/USD plunges stay supported close to the $16.80 and $17.00 levels.
Ethereum Classic Price Trend
This week, there was a decent upside move started from the $16.00 swing low in ETC price against the US dollar. The ETC/USD match exchanged over the $16.50 and $17.00 obstruction levels to move into a bullish zone. It exchanged as high as $17.56 and is right now revising lower. The price broke the 23.6% Fib retracement level of the last wave from the $16.51 low to $17.56 high.
In any case, there are numerous supports on the drawback over the $16.50 level. An underlying support lounges around the $17.00 level. Beneath this, the price may test the 61.8% Fib retracement level of the last wave from the $16.51 low to $17.56 high. There is likewise a significant bullish pattern line shaped with support at $16.80 on the hourly graph of the ETC/USD match. The pattern line support and the $16.85 zone is critical since it concurs with the past obstruction zone. In this manner, any plunges towards the $16.80 and $16.85 levels are probably going to locate a solid purchasing enthusiasm for the close term.
The graph recommends that Ethereum Classic price is put pleasantly in an uptrend over the $16.50 turn level. The ongoing plunge can be viewed as a purchasing open door as long as the pattern line and $16.80 support are unblemished. On the upside, protections are at $17.25, $17.50 and $17.80.
Hourly MACD – The MACD for ETC/USD is moving back in the bearish zone.
Hourly RSI – The RSI for ETC/USD just broke the 50 level.