Ethereum Classic Price Analysis: 5.00 is the level to watch

Ethereum Classic trades over 1% lower as the Monday sell of hits all the majors.
The price found some support ahead of the psychological 5.00 level.

Rajan Dhall, MSTA FX Daily

ETC/USD 1-hour chart

Ethereum Classic is looking pretty bearish but some buying pressure has just kicked in. The price has broken above the 55 hourly exponential moving average after only breaking below it earlier in the session. The RSI indicator has also just moved back above the 50 mid-line which could just be a short term pullback.

Interestingly, the volume is looking subdued which insinuates there is not much backing for some of the more recent moves. The market has also been making lower high and lower low waves so until that changes it's hard to be bullish. The red support zone is now the key level to watch as if it breaks it could give more clues to the future path of Ethereum classic.

Additional levels

ETC/USD

Overview
Today last price	5.2315
Today Daily Change	-0.0946
Today Daily Change %	-1.78
Today daily open	5.3261

Trends
Daily SMA20	5.199
Daily SMA50	6.1562
Daily SMA100	7.6498
Daily SMA200	6.0293

Levels
Previous Daily High	5.4958
Previous Daily Low	5.192
Previous Weekly High	5.9974
Previous Weekly Low	4.9372
Previous Monthly High	8.7183
Previous Monthly Low	3.2793
Daily Fibonacci 38.2%	5.3797
Daily Fibonacci 61.8%	5.308
Daily Pivot Point S1	5.1802
Daily Pivot Point S2	5.0342
Daily Pivot Point S3	4.8764
Daily Pivot Point R1	5.4839
Daily Pivot Point R2	5.6417
Daily Pivot Point R3	5.7876

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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ETC/USD 1-hour chart

Additional levels

ETC/USD

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