Ethereum Classic (ETC) Prices Came Straight Down After Testing Bears At $7.00

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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 negative position due to the resistance level of 7.00 and still, it is coming down.
  • ETC is now slowly preparing to put a halt in the current falling pattern of the prices as a strong negative trade is emerging in the prices.

Recently, Ethereum Classic ETC price traded mostly with strong bearish momentum in the prices below the level of $7.00

As the first prices made their move to cross the major hurdle of $7.00 in which they failed miserably.

If Ethereum classic prices didn’t manage to stop the current falling pattern they fill collapse to the level of $5.40,

There will be a cruel midterm bearish breakout for the ETC prices which will make them suffer a lot.

ETC price managed to stop its continuous falling pattern due to the price level of $5.40 in its previous trading.

This price level was the key reason that prices are still able to cross maintain near the level of $7.00 and now if they keep on trying this current price level than they fill make it collapse and will only suffer.

Ethereum classic’s market capitalization is $754,498,660USD with volume traded of $2,110,210,872 USD and circulating supply of 116,313,299.

Ethereum Classic Price Analysis

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ETC1
Source:tradingview

In the technical chart, prices took a drastic fall due to the price level of $7.00 as this puts a halt on the with the magnificent climb.

Currently, ethereum classic prices are trading above the price level of 6.50, and chances are it can acquire a positive pace soon.

The technical Indicators and oscillators are completely inside the positive trade’s dominance as they are indicating buying trade-in Ethereum Classic.

The MACD level shows that there is an increase in the selling volume of the crypto asset and it is distancing with the buying volume.

RSI is significantly moving towards the crucial level of 50 as they are falling down.

The 24hr-CCI  took a heavy fall from the top normal region, it climbed the highest point possible then collapsed completely.

Resistance Level: $ 6.80

Support Level: $ 6.50

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