Ethereum Classic Price Analysis: Can ETC/USD Hold The $10.00 Support?

2018-8-14 11:00

Key Highlights Ethereum classic price tumbled and broke the $12.50 and $11.20 support levels against the US dollar. There is a key connecting bearish trend line forming with resistance at $11.30 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is slowly correcting higher towards the $11.00 and $11.30 resistance levels.

Ethereum classic price made a sharp U-turn against the US Dollar and Bitcoin. ETC/USD broke the $12.50 support and is currently at risk of clearing $10.00.

Ethereum Classic Price Support

It seems like ETC price was rejected from well above the $14.00 level against the US dollar. The ETC/USD pair traded and consolidated above the $12.50 support for some time. However, sellers had the upper hand as they succeeded in clearing the $12.50 support. The price declined sharply below the $12.00 and $11.50 levels. The decline was such that the price even broke the $11.20 and $10.50 support levels.

A new monthly low was formed at $10.11 and the price is currently correcting higher. It is testing the 23.6% Fib retracement level of the last drop from the $13.43 high to $10.11 low. There is also a key connecting bearish trend line forming with resistance at $11.30 on the hourly chart of the ETC/USD pair. Above the trend line, the next important resistance is near $11.80. It represents the 50% Fib retracement level of the last drop from the $13.43 high to $10.11 low. On the downside, the $10.00 support zone holds a lot of significance.

The chart suggests that ETC price may correct a few points towards $11.50-12.00 zone. However, if buyers fail to take control above $11.20, the price may decline further. In the mentioned case, ETC could even break the $10.00 handle to test the $9.25 support.

Hourly MACD – The MACD for ETC/USD is placed heavily in the bullish zone.

Hourly RSI – The RSI for ETC/USD is now well below the 30 level.

Major Support Level – $10.00

Major Resistance Level – $11.80

The post Ethereum Classic Price Analysis: Can ETC/USD Hold The $10.00 Support? appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum Classic (ETC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $33.89
Капитализация $0 Rank 99999
Цена в час новости $ 10.86 (-100%)

ethereum support usd price classic etc pair

ethereum support → Результатов: 126


Фото:

Vitalik Buterin Urges More People to Support Ethereum for Payments – Here’s Why

Ethereum’s co-founder Vitalik Buterin has recently remarked that Ethereum offers many benefits, and urged more people to support ETH for payments. “More people should support Ethereum for payments. The nice thing about supporting Ethereum is that you’re just not accepting ETH, you also get support for MK, UNI, WBTC and every stable coin for free.  […]

2020-10-2 15:16