- ETC/USD extends Saturday’s bounce amid fresh bid-wave.
- The coin charts symmetrical triangle breakout on hourly sticks.
- 200-HMA offers immediate resistance after the sharp pullback.
The pullback in Ethereum Classic (ETC/USD) from $6.8844 appears to have gathered steam this Sunday, as the coin sees a rapid rise to the intraday highs above $7.15.
The price picked-up bids right after the bulls took out the powerful resistance at $6.93, the convergence of the 21 and 50-hourly Simple Moving Averages (HMAs).
The sharp rally, however, came on the back of the symmetrical triangle breakout on the hourly chart above the key resistance at $6.9606.
The hourly Relative Strength Index (RSI) spiked towards the overbought region, now trading near 69.0.
On its relentless rise, the ETC bulls ripped through the bearish 100-HMA at $7.0586. The further upside now remains capped by the horizontal 200-HMA at $7.1885.
A break above which the $7.20 level will be tested. The August 7 high of $7.2618 could be next on the buyers’ radar.
If the bulls face rejection at the 200-HMA barrier, the price could drop back towards the resistance-turned-support at 100-HMA.
The next support is aligned at the falling trendline (pattern) resistance now support at $6.9548.
ETC/USD: Hourly chart
ETC/USD: Additional levels to consider
|Today last price||7.1358|
|Today Daily Change||0.1991|
|Today Daily Change %||2.87|
|Today daily open||6.9367|
|Previous Daily High||6.9882|
|Previous Daily Low||6.8092|
|Previous Weekly High||8.295|
|Previous Weekly Low||6.4967|
|Previous Monthly High||7.5745|
|Previous Monthly Low||5.5346|
|Daily Fibonacci 38.2%||6.9198|
|Daily Fibonacci 61.8%||6.8776|
|Daily Pivot Point S1||6.8345|
|Daily Pivot Point S2||6.7324|
|Daily Pivot Point S3||6.6555|
|Daily Pivot Point R1||7.0135|
|Daily Pivot Point R2||7.0904|
|Daily Pivot Point R3||7.1925|
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