Home
News
- 1 ETC price is hovering around the 200-day EMA, and looking for a pullback.
- 2 The ETC crypto has settled the gains, establishing base at $25.
The ETC price broke and slipped to the 200-day EMA mark support zone. A head and shoulders pattern was spotted on the daily chart, and the token breached the trendline support mark of $30, highlighting bearishness in the last few sessions. Moreover, the sellers have remained active and are trying to breach the immediate demand zone of $25 to extend the down move. However, the technicals are suggesting a rebound, and buyers are starting to accumulate the token.
At press time, the Ethereum Classic token (ETC) price was $26.30 with an intraday gain of 0.40%, reflecting neutrality on the charts. It has a monthly return ratio of -14.27% and 35.30% yearly. The pair of ETC/BTC is at 0.000412 BTC, and the market cap is $3.87 Billion. Analysts are neutral and suggest that the ETC token may retain strength and will retest the 20-day EMA mark shortly.
ETC Price Volume Profile On Daily Chart
The chart displays the price-to-volume profile of the ETC token and replicates that the token has made a base of around $25 and is attempting a rebound. Moreover, the price action replicates the bulls’ accumulation, and the technicals suggest that the token will soon retest the 20-day EMA mark. The intraday trading volume dropped over 21.87% to $329.90 Million.
Price Volatility and Weighted Sentiment Outlook
Following the range-bound price move, the token displays minimal fluctuations in the price volatility curve throughout the week. The price volatility curve noted a decline of over 1.90% to 0.015. However, the weighted sentiment looks neutral and stayed near the midline around -0.102.
Social Dominance and “X” Followers Overview
The data reflects that the social dominance value noted a notable spike from 12.90% to 1.852%, noting an increase in the media discussion reports. Conversely, the X followers’ data dropped over 15.20% to 70.
Development Activity and Total Open Interest Insights
Per the Sentiment data, the development data witnessed a drop of over 3.67% and dragged below the midline around 4.36, showing a negative outlook. However, the derivative data signifies a long buildup, reflecting bull accumulation; the open interest spiked over 2.80% to $101.65 Million in the intraday session.
Per the Fib levels, the ETC price has retested its 38.2% zone and reached the mid-Bollinger Band zone. Similarly, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.
The total supply of the ETC token is 210.70 Million, whereas the volume-to-market cap ratio is 0.0859, ranked 30 in market cap in the global crypto market.
Summary
The Ethereum Classic token (ETC) price hovers around the 200-day EMA mark and anticipates a rebound. However, the technicals signify neutrality, and the bulls will soon dominate the battle, and the token will outperform.
Technical Levels
Support Levels: $25 and $22
Resistance Levels: $28 and $30
Disclaimer
The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
