Ethereum Classic price analysis: ETC/USD on course of having three straight bearish days


  • ETC/USD went down from $6.63 to $6.58 this Tuesday.
  • The price met resistance on the downward trending line and the 20-day simple moving average (SMA 200) curve.

Ethereum Classic is on course of having three straight bearish days. This Tuesday, the price has gone down from $6.63 to $6.58. Over the last three days, ETC/USD has gone down from $6.72 to $6.58. The hourly breakdown shows that the price has gone up to $6.68, met resistance and went down to $6.58. The downward trending line and the 20-day simple moving average (SMA 200) curve acts as immediate resistance.

ETC/USD daily chart

fxsoriginal

The market is trending above the SMA 20 and SMA 50 curves. The narrowing of the 20-day Bollinger band indicates decreasing market volatility. The moving average convergence/divergence (MACD) shows two straight bearish sessions. The Elliott oscillator shows four consecutive bearish sessions.
 

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 Analysis: BTC/USD could be heading for a deeper correction

Bitcoin's price action has looked dire on Tuesday. The market has moved away from the highs seen on February 13th. On the Tuesday night close, if the market closes below 9,227 then we could be headed toward the 8,500 area marked on the chart.

More Bitcoin News

New EU law encourages mainstream crypto adoption

In July 2018, the Fifth Anti-Money Laundering Directive (AMLD5) was officially signed into law and it came into effect on Jan 10, 2020. The law groups all virtual assets and their providers as “obliged entities.”

More Cryptocurrencies News

Ethereum Price Analysis: ETH/USD posts losses second day in a row, can $250 hold?

Ethereum price alongside other cryptocurrencies is losing ground from the yearly highs posted in February at $288. The losses remain unstoppable following the rejection at $280. 

More Ethereum News

Ripple Price Analysis: XRP/USD golden cross hints return above $0.30

Ripple price extends the bearish leg to $0.26 as bears continue with their rampage across the crypto market. Support at $0.27 suffered a blow as bulls rushed to defend $0.26.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP