TRENDING:
UK CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ethereum Classic Price Analysis: ETC/USD bulls fail near the $7-level

  • ETC/USD bulls ran out of style near the SMA 200 curve.
  • MACD shows sustained bearish momentum.
Ethereum Classic Price Analysis: ETC/USD bulls fail near the $7-level
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily chart

ETC/USD daily chart

ETC/USD faced bearish correction following two straight bullish sessions. The price dropped from $6.925 to $6.889. The moving average convergence/divergence (MACD) shows sustained bearish market momentum. 

There are four strong resistance levels at $6.96 (SMA 200), $7.09 (SMA 20), $7.143 and $7.41. On the downside, we have three healthy support levels at $6.75, $6.515 (SMA 50) and $6.45.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

XRP consolidates as inflows and volume climb

XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.
Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin (BTC) trades slightly lower around $66,000 on Wednesday as tensions in the Middle East escalate further. Still, the Crypto King is up over 2.5% so far this week.
South Korea crypto volumes shrink as retail investors shift to stocks

South Korea crypto volumes shrink as retail investors shift to stocks

South Korea’s major crypto exchanges have seen their trading activity fall sharply over the past year as the country’s stock market surged, suggesting retail speculative interest may be shifting toward equities, Cointelegraph analysis shows.
Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid ETF inflows, US-Iran persistent strikes

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid ETF inflows, US-Iran persistent strikes

Bitcoin (BTC) trades elevated above $66,000 immediate support on Wednesday, following a minor correction from its weekly high of $66,956. The broader crypto market appears to lag on the backdrop of the macro-driven rally, with Ethereum (ETH) hovering above $1,900 and Ripple (XRP) holding support at $1.13.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.