Ethereum Classic (ETC) Price Analysis: ETC Price Sustains $6.00 With Return Of Bulls.

  • 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 $6.50 mark can prove that.

 Source: Coinmarketcap

On the 7-Day weekly chart, ETC Price started at a price level of $7.00 and gradually broke the crucial level of $7.50. The cryptoasset had a gradual positive momentum unlike the other crypto assets in the market. Therefore it can be sustainable on its current price levels. 

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On reaching the level of $6.00 due to the overall significant downtrend, the main aim for the altcoin 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 $6.10 and is looking able to break $6.40 level. Currently, it can sustain above the mark with the current price of $6.20. The market capitalization is $718,125,426 and volume traded of $1,681,827,018 for the altcoin. 

Screenshot (323)
 Source: Tradingview

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 the neutral level of 50 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 reaching the bullish zone. 

Resistance level: $7.00

Support level: $6.00 and $6.10 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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