Ethereum Classic price analysis: ETC/USD defiantly stays in green


  • ETC/USD trading pair has maintained a shallow uptrend from the lows traded last week around $5.11.
  • There is a higher chance that ETC will find support at $6.25 but upside to remain capped at $6.50.

Ethereum Classic is among the few coins that are showing potential for growth on Monday. Besides, ETC/USD trading pair has maintained a shallow uptrend from the lows traded last week around $5.11. On the upside, movement is limited at $6.5 although the price is dancing at $6.44.

With a market capitalization of $716 million, Ethereum Classic is currently the 21st largest crypto on the market. The data on CoinMarketCap shows the digital assets having a 24-hour trading volume of $535 million. Moreover, the price has corrected higher 4% from the same time yesterday.

Also read: SWIFT takes on Ripple with successful instant cross-border trials between Asia and Europe

Looking at the hourly chart, the price is trading above the moving averages. Capacity to correct higher is immense according to the technical levels. For instance, the Moving Average Convergence Divergence (MACD) has managed to stay on the positive side in addition to the shallow trend upwards. The Relative Strength Index (RSI) has retreated from the overbought but also holding position at 61.

 There is a higher chance that ETC will find support at $6.25 and trend sideways with the upside still capped at $6.5 in the coming sessions. This means that traders should not also expect sudden price movements.

ETC/USD 1-h chart

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Prediction: Bears in full control of the market

The bears are in control of the BTC/USD market for the third straight day. This Thursday, the price plummeted from $8,660 to $8,386.60. So far this Friday, the price has fallen further to $8,368.40. The daily confluence detector shows a lack of healthy support.

More Bitcoin News

Ethereum Classic Price Analysis: ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

XRP/USD struggles to save triangle support at its peak

Ripple price struggles to stay above $0.22 support amid a forceful downtrend momentum from recent highs at $0.255. The formation of a falling triangle hints a bullish breakout if its support is defended and XRP bulls allowed to focus on $0.24 resistance.

More Ripple News

DASH Price Analysis: DASH/USD dips below the $100-mark

DASH/USD fell from $102.75 to $97.45, dropping below the $100-level in the process. DASH/USD has charted three straight bearish sessions in the daily chart after the bulls ran out of steam at the $110.60-level.

More Dash news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP