- The Ethereum Classic price recently came out above the $25-resistance level in intraday trading session.
- ETC price is resisting the 200 day moving average in terms of the daily price scale.
- After 4 trading sessions, the Trading Volume jumped above $1 Billion last night.
The Ethereum Classic has one of the early gainer, which noted an over 100% bullish rally in the past few days. Amid rally buyers well managed the sustainability of higher territory, but recently buyers became exhausted near the 200 day moving average while pushing the ETC price towards the $30 resistance.
The week ended with a consolidation phase where speculators set their range between $23 to $28 levels. Looking at yesterday’s sharp gain in ETC cost, buyers seem to be aggressive about buying. As a result, the Ethereum Classic coin is trading at $26.9 Mark at the time of writing today.
The Ethereum Classic coin draws higher-low formation in the course of a 4 hours time frame. Amid higher momentum, price action spotted an upwards trendline (above the chart). While trading higher, the significant moving averages like 20,50 and 200 are below the current price of the following coin.
The Market Cap of ETC crypto shows an amazing gain of 14.5% in the last 24-hours, where Capitalization found above $3.6 Million. Conversely, the Trading Volume is decreasing gradually for the past several days but still buyers don’t want to lose their grip on the ETC coin’s trend. Further, the pair price of ETC/BTC is green by 14.2% at 0.001273 Satoshis.
RSI is on the Way to Knock on the Door of Extreme Higher Zone
On the daily price scale, the ETC bulls are struggling near the 200 day moving average after first pull back. But the 200 DMA breakout is likely as RSI indicator again headed to the door of the extreme overbought zone.
In addition, the MACD is well remaining under the positive region, besides the histograms display lower highs.
The Ethereum Classic coin again turned bullish last night. Although, buyers have a bullish hurdle near the 200 day moving average, but as the RSI breaks the short-term resistance line, buyers may accumulate coin to push the price to $30-resistance.
Support level – $20 and $16
Resistance level – 30 and $40
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.