Ethereum Classic (ETC) Indicating Trading Opportunity For Crypto Traders

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • ETC prices are in a positive position to recover the price falls and can make a history today.
  • Prices are about to face a significant price level of $ 5.50 which turned the tide against the prices last time.
  • ETC can still feel the resistance level of $5.50. If prices manage to pass this crucial level, there will be an outstanding opportunity for a bullish breakout.
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  • However, the ETC/BCH pair is performing negatively with a loss of -6.00% bringing the levels to 0.00076196.

Recently ETC traded mostly with lots of ups and downs in the prices, for the third time prices are making their attempt to reach the major hurdle of $5.50.

Currently, ETC has the strong support of level  $4.50 which prevented price fall more than twice. If prices want to cross the crucial level of $5.50 they need to maintain this current price level of $4.50  which is supporting alt coin’s prices at best.

ETC’s market capitalization is $600,655,754USD with volume traded of $1,945,068,832 USD and circulating supply of 116,313,299.

ETC
Source:tradingview

In the technical chart, prices are attempting to acquire the price level of $5.50 for the third time, current prices are again at make or break position. For the last two times, they end up falling from this position only.

The technical Indicators are in the favor of ETC prices as they are in bullish momentum with the increase in the buying volume of the cryptocurrency.

The MACD level shows the dominance of buying volume in the crypto asset but selling volume catch up with it.

RSI is significantly moving towards the highest level with positive divergence and trading between the level of $50 and $60.

The 24hr-CCI made a sharp positive divergence from the bottom to the overbuying region which is a positive sign.

Resistance Level: $ 5.50
Support Level: $ 4.50 and $4.00

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