Ethereum Classic Price Analysis:‌ Consolidating Near SMA of 20 & 50-Day

  • Ethereum classic price is trading near its short-term moving averages of 20 and 50-day, but the volume is very low.
  • The coin is trading above its vital moving average of 200-day while facing a substantial hurdle of 20, 50, and 100-DMA lines.
  • The pair of ETC/BTC is trading at 0.00145 BTC with a minor loss of -0.16%, and the ratio of ETH/ETH is CMP around 0.02314 ETH with a loss of -0.48% in the last 24-hours
Source:tradingview

Ethereum classic price is stuck under the tight range of 50 to 200-day moving average with no sign of significant momentum. The coin faces a strong hurdle of 20, 50, and 100-DMA lines while finds strong buying interest near the 200-DMA support line.

The volume needs to improve in upcoming trading sessions, which falls below its average line. Once the ETC price sustains above its short-term hurdle of 20 and 50-DMA, we can soon see good bullish momentum with good volume action. The sequence of lower high and lower low should be ending soon. Support on the lower side is at $46.60 and $39.20, whereas resistance on the higher side is $58.30 and $62.01.

Ethereum Classic Price Formed a Symmetrical Triangular Pattern

Source:tradingview

Ethereum classic price over the weekly chart has formed a symmetrical triangular pattern, with the low volume action. The token is trading under the pattern while taking strong support of the rising trend line and facing the resistance of the falling trend line. Volume needs to support either side of breakout in upcoming trading sessions, with the technical parameters. Presently the coin is trading at $50.64 with an intraday gain of +3.86%, and the volume to market cap ratio is at 0.3123.

Relative Strength Index (BULLISH)Ethereum classic price RSI presently indicates a bullish or positive trend over the weekly chart. In contrast, the RSI is forming the rounding bottom pattern and heading towards the higher CMP 52.

Moving Average Convergence Divergence (BULLISH) currently indicates a bullish or positive trend on the daily chart. This is because the buyer’s signal line (green) overpower the seller’s line (red).

Support levels: $46.60 and $39.20

Resistance levels :$58.30 and $62.01.

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