- Ethereum classic price fails to hold its major DMA lines of 20, 50, and 100-Day while still maintaining its 200-DMA line.
- The crypto asset over the monthly chart is trading on a bearish note, with no sign of significant recovery or reversal.
- The pair of ETC/BTC is trading on a slightly bearish note at 0.001235 BTC with an intraday loss of -2.45%, and the ratio of ETC/ETH is CMP at 0.001235 BTC with an intraday change of -1.67%.
Ethereum classic price is struggling near its 50 and 100-day moving average line after a massive selloff from the higher side. The crypto asset at the monthly chart fails to hold its major DMA lines of 20, 50 and 100-Day lines, with a near-average volume line. Whereas the coin slipped below major DMA makes its short term trend bearish but still maintaining above 200-DAM lines.
If the coin manages to hold its 50 and 100-DMA lines with positive volume action, we can soon see a good recovery. Support on the lower side is $52.30 and $47.90, whereas resistance on the higher side is $61.20 and $69.90.
Ethereum classic price at the weekly chart is sideways
Ethereum classic price at the weekly chart is sideways, whereas the technical parameters also project mixed signals. The coin is continuously taking support of the lower support zone, and if the coin manages to hold, we can witness intense buying action. The technical parameters are also favouring sideways motion at the 4-hour time frame with average volume action. Presently, the Ethereum Classic is trading at $57.02 with a flat intraday action of -6.02%, and the volume to market cap ratio is at 0.162
Relative Strength Index (NEUTRAL): Etherum classic price RSI presently indicates a sideways trend after consolidation over the weekly chart. In contrast, the RSI trades at the neutral zone near the oversold area and now CMP at 36.
Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red) overlaps.
Support levels: $52.30 and $47.90
Resistance levels:$61.20 and $69.90.