TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Ethereum Classic Technical Analysis: ETC/USD down 2.5% in the last 10 hours but remains bullish overall

  • ETC/USD has started consolidating after a significant breakout in the last week.
  • The trading volume has been increasing notably. 
Ethereum Classic Technical Analysis: ETC/USD down 2.5% in the last 10 hours but remains bullish overall
Lorenzo StroeLorenzo StroeIndependent Analyst

Ethereum Classic is currently in a strong daily uptrend after a big breakout above $6,8 on July 27. ETC is up by 25% in the past 10 days following the steps of other major coins like Bitcoin and Ethereum. 

ETC/USD daily chart

ETCUSD

Obviously, ETC is in an uptrend and trading way above both EMAs but the RSI is on the overextended zone. The next crucial resistance level is located at $7.56, a level that was established on May 30. Unfortunately, ETC is still far away from its 2020-high at $13.17. For support bulls will use the daily 12-EMA, currently at $6.7 followed by the 26-EMA at $6.47 and then the daily low of $6.21.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Ethereum Price Forecast: EF outlines ways to solve growing state issues

Ethereum Price Forecast: EF outlines ways to solve growing state issues

Ethereum price today: $2,920. The EF noted that Ethereum's growing state could lead to centralization and weaken censorship resistance. The Stateless Consensus team outlined state expiry, state archive and partial statelessness as potential solutions to the growing state load.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP correction slide as BoJ rate decision weighs on sentiment

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP correction slide as BoJ rate decision weighs on sentiment

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are extending their correction phases after losing nearly 3%, 8%, and 10%, respectively, through Friday.

Top Crypto Losers: Pump.fun, Pudgy Penguins, and Hyperliquid extend bearish streak

Top Crypto Losers: Pump.fun, Pudgy Penguins, and Hyperliquid extend bearish streak

Pump.fun, Pudgy Penguins, and Hyperliquid lose ground in an extended bearish streak, recording double-digit losses this week. The surprise drop in the November US CPI to 2.7%, beating expectations of 3.1%, fueled a rally in the stock market.

Bitcoin, Ethereum, XRP face sharp volatility as US posts lowest inflation rate in years

Bitcoin, Ethereum, XRP face sharp volatility as US posts lowest inflation rate in years

Bitcoin, Ethereum and XRP saw increased volatility following the US CPI report for November. The US headline inflation dropped to 2.7% while core CPI fell to 2.6%, its lowest level since March 2021.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.