Ethereum Classic Price Analysis: ETC/USD Eyes Test of $10

2018-9-6 11:30

Key Highlights Ethereum classic price failed to settle above $14.00 and declined sharply against the US dollar. There was a break below an important bullish trend line with support at $14.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair declined towards the $11.00 level and it remains at a risk of more losses towards the $10.00 level.

Ethereum classic price is back in a bearish zone against the US Dollar and Bitcoin. ETC/USD is likely to decline back towards the $10.00 level in the near term.

Ethereum Classic Price Dropped Heavily

After a decent upside move above the $14.00 level, ETC price faced sellers near $14.20 against the US dollar. The ETC/USD pair started a sharp downside move and broke the $14.00 and $12.00 support levels. The price even settled below the $12.00 support and the 100 hourly simple moving average. It seems like a crucial medium term top was formed near the $14.40 level.

During the decline, there was a break below an important bullish trend line with support at $14.00 on the hourly chart of the ETC/USD pair. The pair traded as low as $11.03 and it is currently consolidating. An initial resistance is near the $11.75 level. Moreover, the 23.3% Fib retracement level of the last decline from the $14.23 high to $11.03 low is also near the same zone. Additionally, there is a connecting bearish trend line in place with resistance at $11.60 on the same chart.

The chart suggests that ETC price is back in a bearish zone below $12.00. If it corrects higher, it could face sellers near $11.60, $11.80 and $12.00. The next major hurdle is near the 50% Fib retracement level of the last decline from the $14.23 high to $11.03 low at $12.63. On the downside, sellers could eye a test of the $10.00 support.

Hourly MACD – The MACD for ETC/USD is back in the bearish zone.

Hourly RSI – The RSI for ETC/USD is currently well below the 35 level.

Major Support Level – $11.00

Major Resistance Level – $12.00

The post Ethereum Classic Price Analysis: ETC/USD Eyes Test of $10 appeared first on NewsBTC.

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ethereum usd etc classic price declined pair

Источник: newsbtc.com

ethereum usd → Результатов: 126


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2018-7-4 13:19


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2018-6-11 10:42

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