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Ethereum Classic price analysis: ETC\USD made it above $15.00, bulls set eyes at $16.00

  • Ethereum Classic is among the growth leaders.
  • The next critical resistance is $16.00.
Ethereum Classic price analysis: ETC\USD made it above $15.00, bulls set eyes at $16.00
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Ethereum Classiс is changing hands at $15.70, the coin has recovered strongly from Sunday's low of $13.15 amid news that two cryptocurrency exchanges added support for ETH. Ethereum Classiс gained nearly 5% in recent 24 hours and became one of the best performing coins in top 20.

Ethereum Classic, currently the 16th largest coin, has the market value of $1.6B and average daily volume $237M. It is most actively traded at OKEx and Bitfinex.

On the intraday level, ETHC/USD technical picture looks bright as the price stays above $15.00 handle and above all 30-min SMAs. The local support is created by $15.59 (50-SMA, 30-min chart), followed by $15.00 handle. Once it is broken, the focus will shift onto $14.00 area. On the upside, a movement above $16.00 (Monday's high) is required for an extended upside.

ETC/USD, the 30-min chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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