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- 1 Ethereum Classic price prediction remains bullish till it holds the $16.00 support.
- 2 ETC price faced rejection from the 200-day EMA and also dropped below the 50-day EMA.
- 3 Ethereum Classic crypto is trading near the crucial support.
Ethereum Classic price prediction remains bullish till it holds the $16.00 level. It suggests buyers are active at lower levels and short-term bounce back is possible.
ETC price is stuck in the narrow range between $16.00 to $20.00. Buyers and sellers both tried to break the range on either side but got rejected. It shows that prices lacked direction and are likely to consolidate for some more time.
Ethereum Classic price faced rejection from the 200-day EMA and also dropped below the 50-day EMA. It indicates that the positional, as well as the short-term trend, is down.
At the beginning of July, ETC crypto witnessed a massive spike in buying volume. The price also reacted positively and attempted to break the $20.00 hurdle.
Sadly, the attempt failed and prices again reverted down. It formed a long-tail bearish rejection candle which created fear and triggered the supply zone.
Ethereum Classic price is trading at $17.718 with an intraday decline of -0.79%. The 24-hour volume to market cap is 3.63%. The pair of ETC/BTC is trading at 0.000600 with an intraday decline of -0.33%.
Ethereum Classic Price at attractive levels
Ethereum Classic price prediction suggests a short-term pullback is possible in the coming months. ETC price is near to the demand zone and downside risk is low. The overall crypto market is recovering which might positively impact the prices of ETC in the coming weeks.
Till the Ethereum Classic price sustains above $16.00 the possibility of bounce back remains high. However, the price will pick up momentum when buyers will be able to break the $20.00 hurdle.
The technical analysis suggests ETC crypto price is at attractive levels and buyers will become active soon.
ETC crypto is in a short-term correction mode
ETC crypto price is in short-term correction mode and buyers are trying their best to rebound. If the BTC and ETH price recovers then ETC crypto might also get positively impacted.
The MACD curve slopes down and slips below the zero line indicating mild bearishness. The RSI at 41 denotes bulls losing strength and might reach the oversold territory. However, the ETC price sustained above the super trend buy line shows buyers are also active.
Conclusion
Ethereum Classic price prediction is bullish for the short term as well as for the long term. ETC crypto price is near to the demand zone so the possibility of bounce back remains high.
Technical levels
- Resistance levels: $20.284 and $22.934
- Support levels: $16.623 and $14.359
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
