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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.
Ethereum Classic Price Analysis: 5.00 is the level to watch
Rajan Dhall, MSTARajan Dhall, MSTAFX 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.

ETC rejection of 5.00 level

Additional levels

ETC/USD

Overview
Today last price5.2315
Today Daily Change-0.0946
Today Daily Change %-1.78
Today daily open5.3261
 
Trends
Daily SMA205.199
Daily SMA506.1562
Daily SMA1007.6498
Daily SMA2006.0293
 
Levels
Previous Daily High5.4958
Previous Daily Low5.192
Previous Weekly High5.9974
Previous Weekly Low4.9372
Previous Monthly High8.7183
Previous Monthly Low3.2793
Daily Fibonacci 38.2%5.3797
Daily Fibonacci 61.8%5.308
Daily Pivot Point S15.1802
Daily Pivot Point S25.0342
Daily Pivot Point S34.8764
Daily Pivot Point R15.4839
Daily Pivot Point R25.6417
Daily Pivot Point R35.7876

Author

Rajan Dhall, MSTA

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

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