Ethereum Classic price analysis: ETC/USD spikes by 3.34% in 15 mins
|- ETC/USD went up from $6.88 to $7.11 in just 15 mins this Thursday.
- Currently, ETC/USD is trading for $7.07.
ETC/USD has experienced an extremely bullish Thursday so far. The price of the asset spiked by 3.34%, going from $6.88 to $7.11 in just 15 mins. Since then, the price has settled around $7.07. The last time ETC/USD traded this high was a week ago on 28th August. The 15-mins chart also shows us that the bulls and bears are currently engaged in a tug of war, so more movement can be expected. As earlier reported, the social Media dApp iZbreaker announced its collaboration with Ethereum Classic.
ETC/USD hourly chart
The second last price session in the hourly chart has gone above the upper jaw of the 20-day Bollinger band, indicating that the price is currently overvalued. Since then, the price has met resistance and gone down slightly. The 20-day simple moving average (SMA 20) curve has crossed over the SMA 50 curve along with the price spike, which is a bullish sign. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum while the Elliott oscillator has had five straight bullish sessions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.