Ethereum Classic (ETC) Prices Stumbling Upon The Level OF $5.40

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 major hectic position as it is currently suffering a heavy variation in trading.
  • Prices might break down the significant price level of $ 5.40 as it is facing heavy pressure.
  • The Resistance line is providing major.
  • ETC/BCH pair is performing well with an increase of 0.16% bringing the levels to 0.00077512.

Recently Ethereum Classic ETC trading mostly with variations above the level of $5.40.

Prices are not able to achieve stability above the level of 5.40 due to the heavy resistance line up there. There is a flat trend pattern that means prices are suffering resistance but they are also suffering the volatility, it is a negative indication as the support level of $5.30 is becoming weaker and soon might collapse.

Currently, ETC is seeking to develop a strong support level of $5.35. If prices want to cross the crucial level of $5.50 they 1st need to acquire the level of $5.40 and for that they to find strong support.

ETC’s market capitalization is $624,933,488 USD with volume traded of $1,688,616,462 USD and circulating supply of 116,313,299.

Ethereum Classic (ETC) Price Analysis

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Source:tradingview

The technical chart reflects that prices are suffering and dropping due to the bearish presence. Soon they might lose the level of $5.35 due to the heavy resistance, currently, prices are again venerable for the drop.

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 are in bullish terms with the current trading pattern of buying volume of the crypto asset and selling volume is developing potential nature to catch up and surpass the current bulls.

RSI is started moving towards lower levels with negative divergence but it did acquire a negative trade after being in heavy bullish momentum and currently moving down to the level of 50

The 24hr-CCI is falling again in the normal region from the over buying region due to the heavy negative trade it.

Resistance Level: $ 5.40

Support Level: $ 5.30

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