Ethereum Classic (ETC) Facing Variations Above The Crucial Level of $5.05

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 is in negative momentum and it can drop down below price level of $5.05.
  • ETC/BCH pair is suffering a major loss of -4.57% bringing the levels to 0.00075735.

Today, ETC traded mostly with lots of ups and downs in the prices,  for the second time prices are failing to maintain their presence above the level of $5.00. If prices manage to maintain their gradual climb up above this crucial level, there will be an outstanding opportunity for a bull to break out and establish a heavy presence in the prices.

Currently, ETC prices have a strong support of level  $4.080 which is preventing price fall and providing a major boost to the prices. If prices want to maintain a dominance level above the level of $5.50 the support level $4.80 is the essential they are seeking which is supporting alt coin’s prices at best and it should develop support at the level of 5.00

ETC’s market capitalization is $588,059,481USD with volume traded of $1,466,545,360 USD and circulating supply of 116,313,299.

eth
Source:tradingview

The technical chart indicates that there is a slight negative change it the prices, overall there was an impressive bullish momentum in the crypto currency’s prices.

The technical Indicators are not in the favor of ETC prices as they are in bearish momentum with the increase in the selling volume of the cryptocurrency.

The MACD level shows that they were in neutral terms but there is an increase in the buying volume in the crypto asset but selling volume has the potential to 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 falling down towards the normal zone with a slight negative divergence and in today’s market, CCI witnessed the edges of both overbuying and overselling regions.

Resistance Level: $ 5.10
Support Level: $ 5.00

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