The Bears Head Towards a Conflict Support, ETC May Rebound or Break

ETC Price Analysis – August 17

Ethereum Classic price has been behaving astoundingly different. The coin is speculated to launch the upsurge of the market.

ETC/USD Market

Key Levels:
Resistance levels: $6.5, $7.0, $7.5
Support levels: $4.5, $4.0, $3.5

ETCUSD – Daily Chart

Looking at the price chart, we can see that the volume of transactions is decreasing further. If the ETC/USD pair continues to remain under the control of Bear Radar, the price may return to previous supports at $4.5, $4.0 and $3.5 levels. It is important to note that the ETC market remains on a short-term downtrend.

In addition, a bullish control could bring the price back to critical resistance at $6.5. If buyers can overcome this level, resistances of $7.0 and $7.5 may come into play in the long run. A surge of volatility is looming around the corner. The stochastic RSI is revealed to oversold, suggesting a further drop in prices in the market.

ETC/BTC Market

Against Bitcoin, Ethereum Classic is displaying a declining market over the past weeks as the price action continues to respect the descending trend line. Now, ETC appeared non-volatile as price moves side-way, signaling a possible surge in the market. While price remains indecisive, the ETC trading is likely to go down to the 450 SAT, 400 SAT and 350 SAT supports if the bears turn up.

ETCBTC – Daily Chart

However, a bullish regroup may bring a decisive move with a potential break above the 21-day moving average. If such a scenario occurs, the price is likely to go as high as 600 SAT, 650 SAT, and 700. On the long-term outlook, ETC remains in a bearish control as a rebound is possible if the 450 SAT can act strong. Meanwhile, the coin is reflected neutral on the short-term. Stochastic RSI is heading up at the overbought zone, showing a buy pressure in the market which is yet to play out in the chart.

Please note: cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Azeez M. Mustapha

Azeez M. Mustapha

Azeez Mustapha is a technical analyst, has many years of trading experience in the stock exchange and the crypto markets. He has broad experience in Forex trading, coaching, and funds management.
e-mail: azeez@fxtimes.com

Ethereum Classic Price Analysis: The Bears Head Towards a Conflict Support, ETC May Rebound or Break

Spread the love

The post appeared first on Crypto Asset Home

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 70,314.84 0.94%
Ethereum (ETH) $ 3,563.65 1.07%
Tether (USDT) $ 0.999575 0.05%
BNB (BNB) $ 609.94 3.69%
Solana (SOL) $ 187.37 1.90%
Lido Staked Ether (STETH) $ 3,558.52 1.41%
XRP (XRP) $ 0.620047 1.29%
USDC (USDC) $ 0.998951 0.19%
Dogecoin (DOGE) $ 0.214458 8.48%
Cardano (ADA) $ 0.647295 0.43%