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Ethereum Classic Analysis: ETC/USD Bearish Below $18

Ethereum Classic News

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Ethereum classic cost failed to move over the 18. 80 immunity and dropped against the US dollar.

There was a break below a key bullish fashion line shaped with support in $18. 20 about the hourly chart of this ETC/USD pair. The set is now trading near the 17. 60 degree with a direct support at $17. Under the mentioned service, the purchase price could accelerate declines towards the $16. 60 service region. On the upside, a first immunity is near the 23.6% Fib retracement level of the final decrease in the $18. On the other hand, the most significant barrier is near $18. 20 as well as also the 100 hourly SMA.

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Following a respectable upside move, ETC cost failed to split the $18. 00 resistance degrees from the US dollar. The ETC/USD pair shaped a high close $19. 00 and began a drawback move. There was another effort to clear the identical hurdle, however, the cost failed and topped around $18. ETC cost moved down and broke the $18. 50 service region. Additionally, there was a close beneath the 18. 00 pivot degree as well as also the 100 hourly easy moving average.

Major Support Amount — $17.

  • There has been a fracture below a key bullish fashion line shaped with service in $18. 20 about the hourly chart of this ETC/USD set (Data feed through Kraken).
  • The set is currently trading under the 18. 00 pivot degree as well as also the 100 hourly easy moving average.

Hourly RSI – The RSI for ETC/USD is presently near the oversold levels.

Major Resistance Amount — $18. 20

Hourly MACD — The MACD to get ETC/USD is gaining speed in the bearish zone.

Ethereum classic cost is gradually moving lower from the US Dollar and Bitcoin. ETC/USD could diminish further so long as it’s under the 18.

Ethereum Vintage Cost Resistance

The chart indicates that the cost might face a strong resistance at $18. In case it fails to recuperate over $18. 20, there’s a probability of more losses under the 17. 60 degree in the near term.

Ethereum classic News

Article Title: Ethereum Classic Analysis: ETC/USD Bearish Below $18

Short Description: Ethereum classic cost failed to move over the 18. 80 immunity and dropped against the US dollar.

Author: Aayush Jindal

Publisher - Orgnization: BITTABI

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