TRENDING:
Oil price
Gold Price
EUR/USD
GBP/USD
Silver
Canadian Dollar
Sponsored by
Login
|

Ethereum Classic Technical Analysis: ETC/USD hampered by the upper curve of the 20-day Bollinger Band

  • ETC/USD is trending in an upward channel formation.
  • The RSI indicator has dropped down from the overbought zone.
Ethereum Classic Technical Analysis: ETC/USD hampered by the upper curve of the 20-day Bollinger Band
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily chart

ETC/USD daily chart

ETC/USD encountered resistance at the $5.20 line and the upper curve of the 20-day Bollinger Band and has fallen to $5.06, but it is still trending in an upwards channel formation. The Moving Average Convergence/Divergence indicates decreasing bullish momentum, while the Elliott Oscillator has had seven straight green sessions. The Relative Strength Index has bounced off the edge of the overbought zone and has dropped to 62.50, which shows that the bears have stepped in to correct a potentially overpriced market.
 

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

Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave (AAVE) extends its rally, trading above $81 on Thursday after closing above its key resistance and surging more than 10% the previous day. The bullish move is supported by improving on-chain metrics, with USDT deposits flowing back into the protocol and strengthening its lending ecosystem.
Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

Ripple remains under pressure, trading at $1.06 after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency on Thursday, but the move failed to lift sentiment.

Ethereum Price Forecast: ETH could see a 30% decline if history repeats​

Ethereum Price Forecast: ETH could see a 30% decline if history repeats​

Ethereum (ETH) has fallen toward the $1,600 level, down over 3% on Wednesday as risk-off signs persist across key onchain metrics. The ETH Realized Price Lower Band, which has historically marked bear market bottoms for the top altcoin, suggests ETH has room for further downside before staging a proper upward move.
Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.