Ethereum Classic Price Technical Analysis – ETC/USD Facing Key Resistance

Key Highlights

  • Ethereum classic price declined sharply before forming a short-term low at $22.05 against the US dollar.
  • There is a crucial bearish trend line forming with resistance at $34.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair is currently recovering, but it is facing a major resistance near the $32.00 area.

Ethereum classic price recovered recently after a major decline against the US Dollar and Bitcoin. ETC/USD is correcting higher, but it is finding offers around $32.00.

Ethereum Classic Price Upside Hurdles

There were continuous declines in ETC price as it moved below the $30.00 support against the US dollar. The price even broke the $25.00 support and traded toward the $22.00 level. A low was formed at $22.05 from where an upside correction was initiated. It has moved above the 23.6% Fib retracement level of the last decline from the $47.29 high to $22.05 low.

However, there are many resistances on the upside starting with $31.60. The 38.2% Fib retracement level of the last decline from the $47.29 high to $22.05 low is at $31.60 to prevent upsides. Moreover, there is a crucial bearish trend line forming with resistance at $34.00 on the hourly chart of the ETC/USD pair. Above the trend line resistance, the 100 hourly simple moving average is around $36.00. An intermediate resistance is the 50% Fib retracement level of the last decline from the $47.29 high to $22.05 low.

Ethereum Classic Price Technical Analysis ETC USD

Therefore, there are clear hurdles near $32.00 and $34.00. It won’t be easy for buyers to break both levels and move above $35.00 in the near term. On the downside, an initial support is at $25.00, followed by the last swing low of $22.00.

Hourly MACD – The MACD for ETC/USD is slowly moving back in the bearish zone.

Hourly RSI – The RSI for ETC/USD is moving down towards the 50 level.

Major Support Level – $25.00

Major Resistance Level – $34.00

 

Charts courtesy – Trading View, Kraken

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Key Highlights

  • Ethereum classic price after a decent upside move faced sellers near $47-48 against the US dollar.
  • There is a declining channel forming with resistance at $40.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair may continue to move down and it could test the $34.00 or even $32.00 support area.

Ethereum classic price is under pressure against the US Dollar and Bitcoin. ETC/USD may correct further towards the $32.00 level in the near term.

Ethereum Classic Price Resistance

After a major upside move above the $45.00 level, ETC price faced offers against the US dollar. The price traded as high as $47.29 and later started a downside move. It traded below a few key support levels such as $45.00 and $40.00. There was a break below the $38.00 pivot and the price settled below the 100 hourly simple moving average. The recent low formed was $35.96 and the price is currently consolidating losses.

An initial resistance on the upside is around the 23.6% Fib retracement level of the last decline from the $47.29 high to $35.96 low. There is also a declining channel forming with resistance at $40.50 on the hourly chart of the ETC/USD pair. The pair may correct higher towards $40.00 and the 100 hourly simple moving average. However, it is likely to face a lot of resistances around $40.00-40.50. The 38.2% Fib retracement level of the last decline from the $47.29 high to $35.96 low is also at $40.22 to act as a hurdle.

Ethereum Classic Price Technical Analysis ETC USD

It won’t be easy for ETC buyers to break the $40.00-40.50 resistance levels. On the downside, the price may decline further towards the $34.00 and $32.00 support levels in the near term.

Hourly MACD – The MACD for ETC/USD is advancing in the bearish zone.

Hourly RSI – The RSI for ETC/USD is now placed in the oversold levels around 30.

Major Support Level – $34.00

Major Resistance Level – $40.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price failed to stay above the $34.00 level and declined against the US Dollar.
  • There was a break below a connecting bullish trend line with support at $34.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair needs to stay above the $30.00 support level to avoid any further declines.

Ethereum classic price struggled to maintain gains against the US Dollar and Bitcoin. ETC/USD must hold the $30.00 support area to remain to recover back above $35.00.

Ethereum Classic Price Support

There was a nice upside move in ETC price above the $38.00 level recently against the US Dollar. However, the price failed to stay in the bullish zone, moved down and broke the $37.00 and $35.00 support levels. The decline was such that the price moved below the $34.00 level and the 100 hourly simple moving average. It is now showing a few bearish signs since it broke the $32.00 level and tested the $30.00 handle.

During the downside, there was a break below a connecting bullish trend line with support at $34.50 on the hourly chart of the ETC/USD pair. The pair recovered later and is currently moving around the 23.6% Fib retracement level of the last drop from the $39.15 high to $30.46 low. However, the broken support at $34.00 may now act as a resistance along with the 100 hourly SMA. Moreover, the 50% Fib retracement level of the last drop from the $39.15 high to $30.46 low is also around $34.50.

Ethereum Classic Price Technical Analysis ETC USD

Therefore, the $34.00-34.50 level is a major resistance area on the upside. On the downside, the pair needs to stay above the $30.00 level to avoid any more declines in the near term.

Hourly MACD – The MACD for ETC/USD is gaining pace in the bearish zone.

Hourly RSI – The RSI for ETC/USD is moving lower and is currently around the 30 level.

Major Support Level – $30.00

Major Resistance Level – $34.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price declined recently, but managed to hold the $30.00-31.00 support against the US Dollar.
  • There is a key bearish trend line forming with resistance at $34.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might struggle to break the $35.00 level and the 100 hourly simple moving average in the short term.

Ethereum classic price is holding the ground against the US Dollar and Bitcoin. ETC/USD is facing a major barrier near $35.00, which must be breached for more gains.

Ethereum Classic Price Resistance

After an upside move above $37.00, ETC price faced sellers near $37.45 against the US Dollar. As a result, there was a downside reaction and the price moved below the $35.00 support. The decline was aggressive and the price fell below $32.00. However, the downside move was protected by the $30.00 support zone. Later, a recovery was initiated and the price was able to trade back above $32.00. It even traded above the 50% Fib retracement level of the last decline from the $37.45 high to $29.13 low.

However, the price is currently facing a major resistance near $34.50-35.00. On the upside, there is a key bearish trend line forming with resistance at $34.50 on the hourly chart of the ETC/USD pair. The same trend line at $34.50 is around the 100 hourly simple moving average. Therefore, a close above $34.50 and $35.00 won’t be easy in the short term. The pair is also seen struggling near the 61.8% Fib retracement level of the last decline from the $37.45 high to $29.13 low.

Ethereum Classic Price Technical Analysis ETC USD

On the downside, the $31.00 and $30.00 levels are major supports and can be seen as buy zones.

Hourly MACD – The MACD for ETC/USD is moving slowly in the bullish zone.

Hourly RSI – The RSI for ETC/USD is moving lower and is currently below the 50 level.

Major Support Level – $30.00

Major Resistance Level – $35.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price is moving nicely above the $30-31 support area against the US Dollar.
  • There are two bullish trend lines forming with support at $31.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might continue to rise toward the $35.00 level as long as it is above $30.00.

Ethereum classic price is moving higher against the US Dollar and Bitcoin. ETC/USD is stable above $30.00 and is eyeing more upsides toward $35.00.

Ethereum Classic Price Support

There was a steady rise in ETC price above the $26.00 pivot against the US Dollar. The price gained momentum and was able to move above the $30.00 and $34.00 resistance levels. A high was formed at $34.96 from where a downside correction wave was initiated. ETC has moved below the 23.6% Fib retracement level of the last wave from the $25.90 low to $34.96 high.

However, there are many supports on the downside above the $30.00 handle. There are two bullish trend lines forming with support at $31.50 on the hourly chart of the ETC/USD pair. The pair recently tested the 50% Fib retracement level of the last wave from the $25.90 low to $34.96 high. It is currently holding the $31.40 support and is showing a lot of positive signs. It seems like the pair is likely to hold the $31.40-50 support area. On the upside, an initial resistance is around the $33.00 level.

Ethereum Classic Price Technical Analysis ETC USD

Above the mentioned $33.00 level, the price could move above the $34.00 level toward the recent high of $34.96 in the near term. A break above the $35.00 level won’t be easy considering the current market moves.

Hourly MACD – The MACD for ETC/USD is currently in the bearish zone with no major negative sign.

Hourly RSI – The RSI for ETC/USD is holding the 50 level very well and is showing positive signs.

Major Support Level – $31.40

Major Resistance Level – $34.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price has formed a support base at $25 against the US Dollar.
  • There was a break above a major bearish trend line at $29.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might continue to move higher towards or above the $32 level in the near term.

Ethereum classic price is slowly gaining pace against the US Dollar and Bitcoin. ETC/USD may continue to move higher above the $32 level.

Ethereum Classic Price Upside Move

It seems like a decent support base formed around the $25.00 level in ETC price against the US Dollar. The price moved higher and broke the $26.00 resistance level. There was a break above the 23.6% Fib retracement level of the last decline from the $41.00 high to $24.89 low. ETC buyers were successful in breaking the $27.00 resistance and the 100 hourly simple moving average.

More importantly, there was a break above a major bearish trend line at $29.00 on the hourly chart of the ETC/USD pair. At the moment, the pair is attempting a break above the 38.2% Fib retracement level of the last decline from the $41.00 high to $24.89 low. Once there is a proper close above the $31.09 resistance, there can be more gains. The price could easily move further higher above the $32.00 level. The next resistance is around the 50% Fib retracement level of the last decline from the $41.00 high to $24.89 low.

Ethereum Classic Price Technical Analysis ETC USD

On the downside, the $29.00 level and the 100 hourly SMA is a decent support and a buy zone. The overall trend is positive above the 100 hourly SMA and the price could easily break the $32.00 level in the near term.

Hourly MACD – The MACD for ETC/USD is almost flat and is showing a few bullish signs.

Hourly RSI – The RSI for ETC/USD is currently well above the 50 level is moving higher.

Major Support Level – $29.00

Major Resistance Level – $32.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price is placed in the bullish zone above the $37.00 support against the US Dollar.
  • There is a crucial bullish trend line forming with current support at $37.20 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might continue to rise and it will most likely move above $40 and $42 in the near term.

Ethereum classic price is placed in an uptrend against the US Dollar and Bitcoin. ETC/USD may soon move above $42 for more gains toward $45.

Ethereum Classic Price Uptrend

During the past few days, there was a bullish price action in ETC price above the $35.00 level against the US Dollar. The price dipped on a couple of occasions, but the $35.00 support and the 100 hourly simple moving average protected declines. There was a decent upside reaction and the price traded as high as $42.30 before correcting lower. It has moved below the 50% Fib retracement level of the last wave from the $34.40 low to $42.30 high.

However, the 100 hourly SMA at $37.00 prevented declines. Moreover, there is a crucial bullish trend line forming with current support at $37.20 on the hourly chart of the ETC/USD pair. The pair is trading a nicely above the $37.00 level and the 100 hourly SMA. It also got bid well around the 61.8% Fib retracement level of the last wave from the $34.40 low to $42.30 high. Therefore, there seems like the $37.00 is a major support zone, and the pair might continue to move higher.

Ethereum Classic Price Technical Analysis ETC USD

A break above the $42.30 high would open the doors for more gains toward the $45.00 level or even $50.00.

Hourly MACD – The MACD for ETC/USD is slightly in the bullish zone and is placed well.

Hourly RSI – The RSI for ETC/USD is just above the 50 level and is moving higher.

Major Support Level – $37.00

Major Resistance Level – $42.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price gained a lot of traction and was able to move above $40.00 against the US Dollar.
  • There was a break above a key declining channel with resistance at $34.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair is now placed well above the $35.00 support and looks set to gain further in the near term.

Ethereum classic price is moving higher nicely against the US Dollar and Bitcoin. ETC/USD is now well above $35.00 and it could move further higher.

Ethereum Classic Price Trend

There was a decent upside momentum forming above $30.00 in ETC price against the US Dollar. The price gained pace recently and it moved above the $35.00 and $40.00 resistance levels. The upside move was strong and the price was able to move well above $35.00 and the 100 hourly simple moving average. During the upside, there was a break above a key declining channel with resistance at $34.00 on the hourly chart of the ETC/USD pair.

A high was formed at $41.48 from where the price started a downside correction. It traded below the 23.6% Fib retracement level of the last wave from the $31.50 low to $41.48 high. However, the downside move was protected by the $37.50 support. Moreover, the 38.2% Fib retracement level of the last wave from the $31.50 low to $41.48 high prevented declines. It seems like the pair has completed a correction wave and it will most likely move above the $40.00 level again.

Ethereum Classic Price Technical Analysis ETC USD

Above the $41.48 high, the price might even target $45.00 in the near term. On the downside, the $37.00 and $35.00 levels are decent supports.

Hourly MACD – The MACD for ETC/USD is currently slightly moving in the bullish zone.

Hourly RSI – The RSI for ETC/USD is moving lower from the overbought levels, but it is well above the 50 level.

Major Support Level – $35.00

Major Resistance Level – $40.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price is in a decent uptrend and is placed nicely above the $30.00 level against the US Dollar.
  • There is a major ascending channel forming with support at $30.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might continue to rise in the near term above the $32.00 and $35.00 resistance levels.

Ethereum classic price is slowly gaining momentum against the US Dollar and Bitcoin. ETC/USD could soon move above $34.00 for more upsides in the near term.

Ethereum Classic Price Uptrend

There were steady gains in ETC price from the $26.00 swing low against the US Dollar. The price was able to move above a few important resistance levels such as $30.00 and $34.00. It traded as high as $34.61 before the price started a downside move. It declined and moved towards the $28.00-29.00 support area. A low was formed at $28.50 and the price was able to move back higher.

It has already traded above the 50% Fib retracement level of the last decline from the $34.61 high to $25.80 low. It seems like there is a major ascending channel forming with support at $30.00 on the hourly chart of the ETC/USD pair. The channel support is also above the $28.00 pivot and the 100 hourly simple moving average. As long as the pair is above the channel support at $30.00 and $28.00, there can be further gains.

Ethereum Classic Price Technical Analysis ETC USD

A close above the 76.4% Fib retracement level of the last decline from the $34.61 high to $25.80 low at $32.28 could open the doors for upsides above $34.00. Above $34.00, the price might even accelerate above the $35.00 level in the near term.

Hourly MACD – The MACD for ETC/USD has moved back in the bullish zone is showing good signs.

Hourly RSI – The RSI for ETC/USD is currently well above the 50 level.

Major Support Level – $28.00

Major Resistance Level – $34.00

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • Ethereum classic price is moving nicely above the $26.00 support level against the US Dollar.
  • There is a crucial contracting triangle forming with support at $26.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair might soon make the next move and will most likely break the $28.00 resistance.

Ethereum classic price is placed in the bullish zone against the US Dollar and Bitcoin. ETC/USD may soon break $28.00 to test the $30.00 level in the near term.

Ethereum Classic Price Support

The current bias is positive for ETC price above the $25.00 and $26.00 support levels against the US Dollar. The price was seen trading higher from the $22.50 swing low and recently moved above the $25.00 resistance. The recent low as $24.30 from where the price made a nice upside move and traded above the 100 hourly simple moving average. At the moment, the price is above $27.00 and looks set for more gains.

Looking at the hourly chart of ETC/USD, there is a crucial contracting triangle forming with support at $26.50. The pair is currently struggling to break the 61.8% Fib retracement level of the last decline from the $30.25 high to $24.30 low. Once the pair breaks the triangle resistance and the 76.4% % Fib retracement level of the last decline from the $30.25 high to $24.30 low, it could retest $30.00. Above the mentioned $30.00, the price could even move towards the $32.00 level.

Ethereum Classic Price Technical Analysis ETC USD

On the downside, there is a major support around $26.50 and the 100 hourly simple moving average. The pair must stay above the $26.00-26.50 support in order to gain pace for an upside break.

Hourly MACD – The MACD for ETC/USD is almost flat and is currently showing no signs of a break.

Hourly RSI – The RSI for ETC/USD is above the 50 level and is pointing bullish signs.

Major Support Level – $26.00

Major Resistance Level – $28.00

 

Charts courtesy – Trading View, Kraken