Ethereum Classic Price Analysis: ETC has broken a key intraday trendline

ETC is trading over 4% higher on the session as crypto sentiment improves.
The price has now broken a key intraday trendline and could push higher.

ETC/USD 4-hour chart

Ethereum Classic is having a good session on bank holiday Monday (UK) as the crypto major is one of the best performers. The price has now pushed past the black trendline on the 4-hour chart below which could indicate the price might move back to the highs.

The psychological 7.00 level is now the next resistance and it has been somewhat of a pivot zone during the previous consolidation. In a classic technical move, after the price broke through the trendline it came back to test it before the move higher. When doing that, the 200 simple moving average was in close proximity and was also used to bolster support zone.

Looking closer at the indicators at the bottom of the chart, The Relative Strength Index indicator has pushed through the 50 mid-line which is a bullish sign. There is still space for a move into the overbought area. If anything the bulls would have been happier with slightly more volume on the break, as this would have increased the chance of a higher upside test.

Additional levels

ETC/USD

Overview
Today last price	6.8543
Today Daily Change	0.2926
Today Daily Change %	4.46
Today daily open	6.5617

Trends
Daily SMA20	6.5744
Daily SMA50	6.1164
Daily SMA100	6.4862
Daily SMA200	6.3549

Levels
Previous Daily High	6.784
Previous Daily Low	6.4955
Previous Weekly High	6.9174
Previous Weekly Low	5.9326
Previous Monthly High	6.9885
Previous Monthly Low	4.796
Daily Fibonacci 38.2%	6.6738
Daily Fibonacci 61.8%	6.6057
Daily Pivot Point S1	6.4434
Daily Pivot Point S2	6.3252
Daily Pivot Point S3	6.155
Daily Pivot Point R1	6.7319
Daily Pivot Point R2	6.9022
Daily Pivot Point R3	7.0204

Share: Cryptos feed

All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.

Join Telegram