- ETC price bounced from $20.60 to $29.96 on Friday’s trading session
- The 24-hour volume in ETC is at $6,532,152,770 with a 223% increase which exceeds the Volume / Market cap by 1:86
- The ETC/BTC pair was trading at 0.0004969 BTC with a gain of 38.56%
The 4-hour technical chart of ETC price forecasts an uptrend. According to pivot points, ETC’s critical support level is placed at $20.50. Whereas if it moves up, the key resistance level to watch is $35.0. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing bulls are in control.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) is above EMA-13,21 (green, yellow), which projects a positive trend. The price is way above 55-EMA (red). Investors may perceive positive crossover in the EMA, and the price will also follow the positive trend.
RSI indicator (BULLISH), with a value of 73.70, indicates an overbought situation in the coin. Moreover, Investors can see a downward slope from 89 to 73 in the index, and it may cool down in future trading sessions.
The volume of (52.84K) represents a vast selling volume which is above the Volume MA (29.37K) of 20-days. Buying pressure is required in ETC to drive its price to higher levels.
Indicators Suggest A Slight Cool down In ETC Price
ETC Price traded at $29.96 with a gain of 35% in the last 24-hour and 59.50% up in the weekly time-frame. Furthermore, ETC bounced from the support of $20.60. In contrast, the market capitalization stands at $3.55 billion. Technically, investors can perceive a positive crossover in the EMA, and the price sustains above all the EMA. RSI index showcases a downward slope. Moreover, the price movement can be towards the resistance of $35.0 in future trading sessions.
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