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- Ethereum classic is showing significant positive movement in today’s market by having an overall gain of 1.00%
- It looks like ETC bulls are back in the market and a successful closing above $7.00 mark can prove that.
On the 7-Day weekly chart, Ethereum classic ETC started at a price level of $5.50 and gradually broke the crucial level of $6.00. ETC Price had a gradual positive momentum unlike the other crypto assets in the market. Therefore it can be sustainable on its current price levels.
On reaching the level of $6.00, the main aim of the Ethereum classic price was to break the major mark of $6.50 again. It was successful in breaking the mark but now able to sustain above that.
On the 1-day current chart, it started with the level of $6.50 and is looking able to break $7.00 level. Currently, it can sustain above the mark with the current price of $6.60. The market capitalization is $771,125,426 and volume traded of $2,295,827,018 for the altcoin.
The technical chart reflects on the gradual positive momentum faced by ethereum classic during the past few days. After reaching the support level of $6.00, the price of ETC can have a boost to cross the level of $7.00.
The technical indicators suggest that now ETC bulls are here to build sustainable bullish momentum.
The 24hour-RSI is also reaching a strong level of 60 which is positive for bullish momentum.
The 24hour-CCI is in the normal territory and a negative divergence will put the levels in the oversold region. However, if CCI remains in the overbought region for a long duration, bears might comeback for ETC.
MACD levels also indicate an upcoming bullish momentum as the levels are in the bullish zone.
Resistance level: $7.00
Support level: $6.50 and $6.20
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
