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Ethereum Classic Price Analysis: ETC/USD to reach $16 soon

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Key Highlights Ethereum Classic Price 28 June

  • Ethereum classic price is exchanging welcomely over the $14.25 bolster region against the US dollar.
  • There is a noteworthy bearish pattern line shaped with obstruction at $15.60 on the hourly diagram of the ETC/USD match (Data feed through Kraken).
  • The combine needs to clear the $15.60 and $16.00 opposition levels to pick up upside energy in the close term.

Ethereum classic price is gradually moving in a positive zone against the US Dollar and Bitcoin. And so forth/USD could quicken increases above $16.00 if purchasers pick up control.

 

Ethereum Classic Price Resistance

There was a better than average upside move in ETC price over the $14.25 and $15.00 obstruction levels against the US dollar. The ETC/USD match exchanged near the $16.00 opposition, which averted additionally picks up. There were a few endeavors by purchasers to break $16.00, however they fizzled. Thus, the price declined and moved beneath $15.00. There was a break underneath the 38.2% Fib retracement level of the last wave from the $13.21 low to $16.03 high.

The price likewise cleared the 100 hourly basic moving normal, yet it discovered help close $14.25. In addition, the 61.8% Fib retracement level of the last wave from the $13.21 low to $16.03 high likewise offered help. And so forth price bobbed back and is at present exchanging above $15.00 and the 100 hourly SMA. On the upside, there is a noteworthy bearish pattern line framed with obstruction at $15.60 on the hourly graph of the ETC/USD combine. Over the pattern line, the most vital obstacle for purchasers is close to the $16.00 level.

 

Ethereum Classic Price Analysis ETC USD

The outline recommends that the price is gradually moving into a positive zone above $15.00. Be that as it may, it should clear the $15.60 and $16.00 protections from pick up footing. On the drawback, underpins are seen close $14.60 and $14.25 levels.

Hourly MACD – The MACD for ETC/USD is as of now level in the bullish zone.

Hourly RSI – The RSI for ETC/USD is holding the 50 level with positive signs.

Significant Support Level – $14.25

Significant Resistance Level – $16.00

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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