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Altcoin — Opinion — Blockchain

Ethereum Classic Price Analysis: ETC/USD bullish pattern.

,   and  Coinnounce Team
Ethereum classic price moved higher as of late. ETC/USD is at present amending lower, however plunges stay supported above $1
Ethereum classic price moved higher as of late. ETC/USD is at present amending lower, however plunges stay supported above $13.50.

Ethereum Classic Price Key Features

  • Ethereum classic price flooded higher this week and exchanged above $14.00 against the US dollar.
  • There is a urgent bullish pattern line framed with support at $13.55 on the hourly outline of the ETC/USD match (Information feed through Kraken).
  • The pair is as of now testing a noteworthy support region close $15.50 and it could skip back.

Ethereum classic price moved higher as of late against the US Dollar and Bitcoin. ETC/USD is at present amending lower, however plunges stay supported above $13.50.

Ethereum Classic Price Support

Amid the previous couple of sessions, there was a strong ascent in Ethereum classic price from the $12.40 low against the US dollar. The ETC/USD match flooded higher and broke the $13.00 and $13.80 resistance levels. There was even a break over the $14.00 level and ethereum classic price exchanged as high as $14.53. Afterward, the price began a drawback amendment and exchanged beneath the $14.00 level.

There was additionally a break underneath the half Lie retracement level of the last leg from the $13.01 low to $14.53 high. Be that as it may, decreases were very much secured close to the $13.50 level, which went about as a support prior also. Furthermore, the 61.8% Lie retracement level of the last leg from the $13.01 low to $14.53 high ceased decays. All the more critically, there is an essential bullish pattern line shaped with support at $13.55 on the hourly outline of the ETC/USD combine. The pair is as of now merging over the $13.50 support. For whatever length of time that the price is over the pattern line and the $13.50 support, it could continue its upside move.

ETCUSD Price Chart 4 September
ETCUSD Price Chart 4 September

The outline recommends that Ethereum classic price is put pleasantly in an uptrend from the $12.40 low. On the off chance that the $13.50 support holds, it could bob back over the $14.00 level in the close term. If not, there is a danger of a broadened remedy towards the $13.20 level.

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

Hourly RSI – The RSI for ETC/USD is as of now underneath the 50 level.

Significant Support Level – $13.50

Significant Resistance Level – $14.20

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