- Ethereum Classic prices are making an ascending triangle currently
- Ethereum Classic can inflate by 20%
Ethereum Classic is on the verge of giving another triangle breakout. Ethereum Classic is in a bull run since December 2020. It took a breather on January 10, 2021, showing a decline in prices until the recent trading sessions. The coin has taken a support of $7.34. The market cap and 24 hour volume are $898,504,673 and $217,613,973 respectively.
Ethereum Classic: A Target Of 20% Upside And Two Hurdles
Ethereum Classic is currently facing a hurdle(resistance) at $8.00 to reach its all-time high of $9.5 levels. The coin is likely to face resistance at $8.5 levels also. The coin is currently consolidated and making doji candles.
The VWAP is at $7.795. 10 EMA, 20 SMA, and 50 EMA ar at $7.648, $7.425, and $6.907, respectively. All the above levels are acting as crucial intraday supports for the coin today.
The RSI is hovering at 50 levels only. It is suggesting neutral sentiments in the market for the coin.
The MACD(8,21,5) is about to give a bearish crossover, prompting the bulls to enter into the coins. The MACD will face its resistance at 0.511. Its current levels are 0.25.
The ADX is at 12, while the DI+ and DI- are at 20.58 and 17 levels. The data suggest that the trend is fragile, which is a prerequisite for considerable momentum on either side.
Ethereum Classic has approached the vertex of an ascending triangle, consisting of a horizontal resistance of $7.956, a diagonal resistance, and diagonal support. The coin can climb at least 20% from current levels, or else it can plunge by 10%.
Support: $7.948(10 EMA) and $7.3(20EMA)
Resistance: $7.956-$8.00 and $8.5