• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
technical analysis ethereum classic
Nexo Logo

Ethereum Classic Price Analysis: ETC/USD in Downtrend Below $11.20

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Key Highlights

  • Ethereum classic price is under pressure below the $11.20 and $11.40 resistances against the US dollar.
  • There is a declining channel in place with resistance at $11.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair remains at a risk of more declines as long as it is below the $11.00 and $11.20 resistances.

Ethereum classic price recently found support against the US Dollar and Bitcoin. ETC/USD is recovering, but upsides could be capped by $11.00 and $11.20.

Ethereum Classic Price Resistance

There was a downside extension in ETC price below the $11.00 support area against the US dollar. The ETC/USD pair declined below the $10.50 and $10.25 support levels. It traded as low as $10.15 before buyers appeared. Later, there was an upside correction and the price moved back above $10.50. There was also a break above the 50% Fib retracement level of the last decline from the $11.49 high to $10.15 low.

However, the upside move was capped by the $11.00 resistance zone. Moreover, the 61.8% Fib retracement level of the last decline from the $11.49 high to $10.15 low stopped the upside move. There is also a declining channel in place with resistance at $11.00 on the hourly chart of the ETC/USD pair. Above the channel resistance, the 100 hourly SMA is placed near the $11.10 level. Therefore, it seems like it won’t be easy for buyers to clear the $11.00, $11.10 and $11.20 resistance levels. If there is a fresh decline, the $10.40 level is an initial support.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ethereum Classic Price Analysis ETC Chart

The chart suggests that ETC price could slide again if it fails to move past the $11.20 resistance. Above $11.20, the price may well rise back towards the $11.80 and $12.00 levels in the near term.

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

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

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

Major Support Level – $10.40

Major Resistance Level – $11.20

Tags: ETCETC to USDethereumEthereum ClassicEthereum Classic PriceEthereum Classic Price Technical AnalysisOpinionpricetrading
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Extreme fear

Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low

5 hours ago
Ethereum

TA: Ethereum Forms Bullish Pattern But This Level Is Crucial

16 hours ago
Bitcoin

TA: Bitcoin Price Moves Higher In Range, $30.6K Still Presents Resistance

19 hours ago
Ethereum

TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

2 days ago
Bitcoin

TA: Bitcoin Price Stuck In Key Range, Why Dips Might Be Limited

2 days ago
bitcoin

Eight Consecutive Red Closes: Is Bitcoin Headed For A Recovery?

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

Pancakeswap to Start Listing Metallika token (METALLIKA)

May 25, 2022

Ariva celebrates 1st year anniversary with impressive achievements in the blockchain industry

May 25, 2022

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.