•ETC/USD is currently priced at $15.71 and has increased by 0.39% over the past day
•The trading volumes have decreased by 18.04% over the past day
•The technical indicators suggest a neutral outlook for the near term
Short Term View: Is there an uptrend on the cards for Ethereum Classic price?
The Ethereum Classic price today is $15.71 USD with a 24-hour trading volume of $56,216,714 USD. Ethereum Classic is up 0.39% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.02587 for the altcoin.
The Ethereum Classic bulls have added spice to the dying sentiment as they have been successful in quashing the bearish trend. The insistence of the bulls has paid dividends as the Ethereum Classic price is currently transacting above the 20 SMA on the four hour chart, with the 50 SMA likely to follow suit in the coming days. The asset is likely to undergo a period consolidation before making steps to scale the $20 resistance level. The support is placed at $10 on the other side of the spectrum.
Long Term View for Ethereum Classic price
The endeavors of the Ethereum Classic bulls seem to have bore fruit as the RSI has recovered from the recent oversold levels to transact at 37.96 at the current price levels. The green histograms have been gaining traction on the daily chart to a large extent and the MACD and signal lines continue to make headway towards the positive end of the chart. This comes as positive news for the Ethereum Classic price action hopefuls.
Conclusion
Ethereum Classic’s downward spiral has been halted to some extent courtesy of the bulls. The asset is currently in a phase of consolidation and it remains to be seen if the altcoin will continue trending upwards in the days to come.
Support: $10
Resistance: $20
Disclaimer
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.
