Ethereum Classic (ETC) Turns Red Suffering The Bearish Momentum Heavily

  • ETC is one of few cryptocurrencies who are turned red today,
  • Ethereum Classic is maintaining  a price gradual downfall and moving towards the level of $4.80
  • The ETC/BTC pair is also performing negative with the loss of – 1.94% bringing the levels to 0.00076612.

ETC prices are unable to maintain a static climb and worst, now they acquired a negative divergence. This past week there was heavy volatility in ETC prices between the levels of $5.10 and 5.00

There is a strong resistance of $5.50 which stopped prices and force them to acquire a negative divergence. The prices are now trading below the level of $5.00. Prices are about to test the support level of 4.80.

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The market capitalization is $570,020,895 USD with volume traded $1,369,348,651 and circulating supply of 116,313,299 ETC.

Ethereum Classic Price Analysis

ETC
Soure:tradingview

The technical chart shows that Ethereum classic prices are unable to make a climb and suffering downfall in every aspect. The bearish nature of the market put bears in a dominating position that prices are unable to acquire a firm ground to stand against the odds.

The technical indicators and oscillators are showing an increase in the selling volume of the Ethereum classic.

MACD levels are showing that both buying and selling volume is at the same level. The one who comes out 1st will be the dominating factor.  The global market’s factors are not supporting the prices of ETC.

The 24hr- RSI showing significant downfall, as, from the normal region, it is falling down to the bearish zone as currently trading below the level crucial level of 50.

The 24hr-CCI is having a tough time as it is witnessing a negative divergence and currently struggling to maintain its presence in the normal region but unable to perform it.

Resistance level: $ 5.50
Support Level: $4.80

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Ayush Malviya
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.

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