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Ethereum Classic (ETC) Price Analysis: ETC Price Reclaims $6.50 Mark Opening

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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 $6.50 mark can prove that.
  • However, any sort of reversal will indicate that the resistance level of $6.50 again acted. 
 Source: Coinmarketcap

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

Screenshot (333)
 Source: Tradingview

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 

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