Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support

2018-12-4 11:28

Key Highlights

Ethereum classic price started a fresh decline after trading close to $5.30 against the US dollar. There was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is now at a risk of more losses below the $4.40 and $4.20 levels.

Ethereum classic price declined sharply against the US Dollar and Bitcoin. ETC/USD is back in a bearish zone and it could revisit the $4.00 support level.

Ethereum Classic Price Analysis

This past week, there was a decent recovery above $4.80 in ETC price against the US dollar. The ETC/USD pair traded above the $5.00 and $5.20 resistance levels. A high was formed at $5.27 and later the price started a fresh decline. It traded lower sharply and broke the $5.00 support and the 100 hourly simple moving average. There was even a break below the 76.4% Fib retracement level of the last wave from the $4.40 low to $5.27 high.

Moreover, there was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair. The pair is currently trading near the $4.40 low, which is acting as a support. If the price continues to move down, it could test the $4.20 support. It coincides with the 1.236 Fib extension level of the last wave from the $4.40 low to $5.27 high. However, the key support is near the $4.00-4.05 zone where buyers are likely to emerge. If the price corrects higher, the previous supports at $4.50 and $4.75 are likely to prevent gains.

The chart suggests that ETC price is back in a bearish zone with a close below $5.00 and 100 SMA. The next stop for sellers could be either $4.20 or $4.05.

Hourly MACD – The MACD for ETC/USD is slowly moving back in the bullish zone.

Hourly RSI – The RSI for ETC/USD is recovering towards the 45 level.

Major Support Level – $4.20

Major Resistance Level – $4.75

The post Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3132.11 (+0.20%)
Объем 24H $35.362b
Изменеия 24h: 0.64 %, 7d: -1.63 %
Cегодня L: $3039.69 - H: $3145.41
Капитализация $377.193b Rank 2
Цена в час новости $ 111.68 (2704.54%)

ethereum support etc usd price classic below

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