•ETC/USD is currently priced at $26.35 and has increased by 1.58% over the past day
•The trading volumes have increased by 6.50% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Ethereum Classic Price leaving an upward trail
The Ethereum Classic price today is $26.35 USD with a 24-hour trading volume of $494,154,517 USD. Ethereum Classic is up 1.58% in the last 24 hours. The trading volumes have increased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.1361 for the altcoin.
Ethereum Classic price has been maintaining an ascending trendline for the better part of the past week as the asset looks to finish the weekend on a relative high. The asset is in uptrend, as is depicted by the Ethereum Classic price currently transacting above the 20,50 SMA on the four hour chart. Moreover, the presence of the golden cross further emboldens the endeavor of the bulls, which , if they are able to sustain, could spell doom for the $30 resistance level. On the flip side, a move below the support level placed at $20 would have grave short term consequences for the future of the altcoin.
Long Term View for Ethereum Classic
Ethereum Classic has been on an uptrend for the better part of the past month, as the RSI is currently meandering along at 56.29. The bullish bias in Ethereum Classic price is aptly demonstrated by the MACD indicator which shows the green histograms increasing in size continuously on the daily chart. The MACD and signal lines are about to enter the positive territory as well which bodes well for the future prospects of the coin.
Ethereum Classic bulls have surely made their presence felt in the market as they have had a big say in taking the asset forward. The asset has capped off another week on a positive note and the uptrend looks set to continue in the days ahead.
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.