- The ETC coin shows the 20 and 100 EMA are on the verge of giving a bearish crossover
- The ETC/BTC pair was trading at 0.001182 BTC with a loss of 0.62%
- The ETC coins have a 24-hour trading volume of $629.4 Million.
ETC coin was close to a critical resistance of $77 on September 7, when it experienced an intense selling pressure that resulted in a short retracement phase, as illustrated in the technical charts. After showing the sharp fall in its value, the price still managed to hold above the 0.5 FiB mark, as the buyer’s activity started to display again. However, The price is not showing any significant movement and is still hovering above $55.3 support.
The ETC coin current price is trading higher than trend diffing EMAs 200, which indicates a bullish trend is still intact. However, the coin chart also shows the 20 and 100 EMA are on the verge of giving a bearish crossover, which could attract more sellers to this coin.
The RSI value at 42 suggests a bearish sentiment regarding the coin.
ETC Coin Price Is Resonating In A Short-range
The ETC coin price has fluctuated between $60.8 and $50.7 for almost two weeks now, creating a narrow range in the ETC/USD chart. The Crypto traders interested in this coin could have an excellent entry opportunity with the new range. These traders need to wait for the coin price to break out from either level of this range which could provide them a strong directional move in this coin.
The moving average convergence/divergence (MACD) indicator shows that signal and MACD lines have just moved below the neutral zone (0.00), indicating a bearish sentiment.
Conclusion: from a technical perspective, the trend for ETC coins is still bullish. And as mentioned, the price is trying to sustain above the 0.5 FIB level encouraging the coin buyers to continue the bull rally. Thus, the Crypto traders can use the shown range to trigger an entry opportunity when the price manages to break out from its overhead resistance of $60.8.