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- 1 The Ethereum classic crypto is experiencing a decline of 0.32% in the last 24 hours, trading at $24.89 and rising.
- 2 The RSI is above the 50 level, indicating that the asset is not losing steam and that it is in bullish territory.
The Ethereum Classic price action shows that the price was in an uptrend from the last three months and showed a great move. The price made higher highs and lows from the demand zone at $15 to the supply level at $32.
The ETC price experienced a decline from the supply level, dropping to $21.77 where it formed a support. Following this, the asset demonstrated a resurgence in price, rebounding from the established support level on the chart.
The Ethereum classic crypto is experiencing a decline of 0.32% in the last 24 hours, trading at $24.89 and rising.
Can Ethereum Classic Show A Big Upward move Soon?
The ETC crypto seems like it is on the brink of continuing this stunning uptrend, as it gathers momentum to shatter the ceiling and fly higher and higher from the current base level.
Therefore, if the demand for the Ethereum classic crypto remains high, the asset price could keep on advancing and make a continuous upward break of structures from the current level. The next goal for the price could be to test the supply region again and reach $32, and the break of this level could open the doors to even higher levels. The in-between primary resistance is $26.
On observing the past price action more closely on the daily chart, the view gets widened and it seems like the ETC asset is exhibiting bullish features and can reach higher levels in the upcoming sessions. Moreover, It has displayed good performance in the previous week, month, and quarter by 5.19%, 22.68%, and 33.33% respectively, signifying a strong upward force.
The Ethereum classic asset is rising steadily and strongly as it remains above the major 20 and 50-day EMAs, indicating good bullish strength.
The asset is showing bullish momentum as the MACD and signal lines are moving side by side and are anticipated to make a bullish crossover soon. Besides, the MACD is at 0.35 and the signal line is at 0.36, where the histogram is at -0.01.
The RSI is above the 50 level, indicating that the asset is not losing steam and is in bullish territory, and this highlights that it can continue to climb higher.
On the flip side, if the ETC crypto price fails to stay above the $21.77 level, it could decline further and could sink to $15 as well.
Summary
The Ethereum classic asset is rising steadily and strongly as it remains above the major EMAs, and the MACD and signal lines are moving side by side and are anticipated to make a bullish crossover soon. Additionally, the RSI is above the 50 level.
Therefore, if the demand for the Ethereum classic asset remains high, the price could keep on advancing and make a continuous upward break of structures from the current level.
Technical Levels
Support Levels: $21.77
Resistance Levels: $26
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
