Ethereum Classic (ETC) Finally Able To Cross The Level Of $5.20, Seeking Stability

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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 and it did acquire a resistance level of $5.30 but unable to maintain it.
  • Prices also crossed the significant resistance level of $ 5.20 which was applying lots of pressure on the prices last.
  • ETC is now slowly preparing up to go against the resistance level of $5.50 as finally, it is in their reach.
  • Recently ETC traded mostly with lots of ups and downs in the prices near the level o $5.20, for the third time prices made their move to cross the major hurdle of $5.20 in which they succeeded. And now, If prices manage to pass this crucial level 5.50, there will be an outstanding midterm bullish breakout for the ETC prices

Currently, ETC has strong support of level  $4.90 which is preventing price fall and providing a major boost to the prices. This price level was the key reason that prices were finally able to cross the crucial level of $5.20 and now if they maintain this current price level than they can make an impressive climb against the resistance level.

ETC’s market capitalization is $621,150,740USD with volume traded of $1,554,314,265 USD and circulating supply of 116,313,299.

Ethereum Classic Price Analysis

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ET classic
Source:tradingview

In the technical chart prices finally acquired the price level of $5.50 in their third attempt. Currently, prices are trading near the resistance price level of 5.40 and chances are it can acquire it soon enough.

The technical Indicators and oscillators are completely at a neutral note which is indicating that balanced trade is going on in the ethereum classic.

The MACD level shows that there is an increase in the buying volume of the crypto asset and it is creating a distancing the selling volume with the potential climb up with bulls.

RSI is significantly moving towards the highest level possible with a very sharp positive divergence and it did touch the level of over buying zone.

The 24hr-CCI  took a heavy jump as from the overselling region, it climbed the highest point possible in the over buying region.

Resistance Level: $ 5.40
Support Level: $ 5.30

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