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ETHEREUM Classic Price Analysis: Bearish win is visible since 7 September

Rajat Arya by Rajat Arya
September 15, 2021
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ETHEREUM Classic Price Analysis: Bearish win is visible since 7 September
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  • ETC is an original ETH blockchain that is used to develop DAPPS.
  • FIB 0.235 is providing support to the coin at $56.81.
  • RSI for ETC shows the NEUTRAL action.
Tradingview

The token has formed the pattern of a bullish doji star. ETC rose by 1.86% on Wednesday. Following a 0.59% gain on Tuesday, ETC ended the day at 57.11. The last known price of this coin is 56.438. A mixed start for the day saw ETC fall to an early morning intraday low of $56.031 before making a move. Steering clear of the first support level at $55.85, ETC rallied to the Intraday high of $57.56. ETH has bounced back from $48.254(7 September 2021) to $57(till date)

It has the current trading volume(s) of 805,421,056 with a loss of 21.91% over the last 24 hours. ETC has addresses of 9,821 holders with the active transfer(s) of 84,929 in the last 24 hours. The circulating supply of token is 129,644,908 ETC coins and a max. supply of 210,700,000 ETC coins.Total supply of coin is also the same as Max. supply. 

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SMA-20, SMA-50 and SMA-200

The chart above shows the movement of ETC where 20 DMA has been running below SMA-200 and SMA-50 is running below SMA-200. We see the token with respect to SMA’s which are 20, 50 and 200. We see that all the three SMA’s are running parallel to each other and this could be a possibility of moving to a higher price. We see a downwards pattern where the bears win has been visible. The trend line marked shows this downwards shifting. Earlier to 7 September the token was running upwards and it was completely the bullish market. 

Its top 10 and 20 holders have more than 65% holdings and top 50 and 100 have more than 70% which makes the strong supply side of the coin.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 53.356 and marks the neutral action. MA-5, MA-10 and MA-20 show the buy action. Even MA-100 and MA-200 show the same buy action. .

The bull/bear power has the value of 0.4147 and shows the buy action. The high/low marks the buy action with the value of 0.6669.

The ETC-BTC pair is trailing at the level of 0.001204 and the loss of 1.80% was seen whereas the ETC-ETH pair is at 0.01675 and the loss of 1.17% was seen in the last 24 hours. The volume/market cap of the token is 0.1097 and its market dominance is 0.35%.

FIB stands at 0.235

Tradingview

The chart above shows the trailing coin below the FIB golden ratio. The recently formed candles on a 4 hours basis have touched the FIB 0.236 mark. This is certainly a point where the coin would gain strength to move higher. Purchase the token if you are looking to enter in ETC.

Conclusion: The days range for the coin is 55-57 and presently is at 56.77. The 24 hours high and low of the coin is 57.56 and 55.21 respectively.

The ETC ATH is 176.16 and ATL is 0.4524. 

ETC ROI (approximate return on investment if purchased at the time of launch) is 6942.01%.

Technical Instruments:

Pivot: 56.94

R-1: 57.15

R-2: 57.27

S-1: 56.74

S-2: 56.61

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour
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Rajat Arya

Rajat Arya

Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.

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