• Ethereum Classic is trading just above flat after a tight day of trading.
  • The price has converged into a triangle formation but there is a lack of direction at the moment.

ETC/USD 1-hour chart

Ethereum is still in a downtrend on the daily charts and this current pattern is a consolidation after the move from 13.17 to 3.50. The price has been making higher lows recently but the wave high of 5.29 was a step too far. For the trend to continue that is the level that needs to be taken out. 

Looking closer at the chart now the volume has recently picked up. Unfortunately for the bulls, the spike in volume came in the form of a shooting star candle. The good news is the price is still above the psychological 5.00 level. It does look vulnerable but at the moment it is still intact. Also, the price is still holding above the 55 and 200 period moving averages. So there are some good bullish signals but the sell-side volume is still dominant.

Ethereum Classic Triangle Pattern

Additional levels

ETC/USD

Overview
Today last price 5.0356
Today Daily Change 0.0150
Today Daily Change % 0.30
Today daily open 5.0206
 
Trends
Daily SMA20 5.487
Daily SMA50 8.1049
Daily SMA100 7.4742
Daily SMA200 6.1119
 
Levels
Previous Daily High 5.273
Previous Daily Low 4.9056
Previous Weekly High 5.5259
Previous Weekly Low 4.055
Previous Monthly High 13.1888
Previous Monthly Low 7.1948
Daily Fibonacci 38.2% 5.0459
Daily Fibonacci 61.8% 5.1326
Daily Pivot Point S1 4.8598
Daily Pivot Point S2 4.699
Daily Pivot Point S3 4.4924
Daily Pivot Point R1 5.2272
Daily Pivot Point R2 5.4338
Daily Pivot Point R3 5.5946

 

 

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