- 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.
- However, any sort of reversal will indicate that the resistance level of $6.50 again acted.
On the 7-Day weekly chart, ETC bulls started at a price level of $6.50 and gradually broke down to the crucial level of $6.00. The Ethereum Classic (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 due to the overall significant downtrend, the main aim for the Ethereum Classic (ETC) Price was to break the major mark of $6.50 again. It was successful in breaking the mark.
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 $6.44. The market capitalization is $718,125,426 and volume traded of $1,181,827,018 for the altcoin.
Ethereum Classic Price Analysis
The technical chart reflects on the gradual positive momentum faced byEthereum Classic (ETC) Price 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
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.