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

  • Ripple price made a major bottom near the $0.8399 low and recovered against the US dollar.
  • There was a break above yesterday’ highlighted crucial bearish trend line with resistance at $1.45 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently facing a huge task near the $1.60 level and the 100 hourly simple moving average.

Ripple price is recovering nicely against the US Dollar and Bitcoin. XRP/USD is now above $1.40, but facing a major resistance near $1.60 and the 100 hourly SMA.

Ripple Price Resistance

Yesterday, we saw a major decline below $1.00 in Ripple price against the US Dollar. The price traded as low as $0.8399 from where it started an upside move. It moved above the 50% Fib retracement level of the last drop from the $1.9027 high to $0.8399 low. The current price action is positive since the price has moved above the $1.00 and $1.20 resistance levels.

More importantly, there was a break above yesterday’ highlighted crucial bearish trend line with resistance at $1.45 on the hourly chart of the XRP/USD pair. However, the pair is currently facing a major hurdle near the $1.50-1.60 levels. The 100 hourly simple moving average is positioned at $1.60 to act as a major barrier for buyers. Moreover, the 61.8% Fib retracement level of the last drop from the $1.9027 high to $0.8399 low is at $1.49. Therefore, it seems like there is a crucial resistance forming near $1.50-1.60.

Ripple Price Technical Analysis XRP USD

A break above stated $1.60 level is needed for buyers to gain control. On the downside, an initial support is at $1.30. However, the most important support is now at $1.20, which is a buy zone.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is now back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.

Major Support Level – $1.20

Major Resistance Level – $1.60

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • ETH price declined heavily and moved toward the $700 level before recovering against the US Dollar.
  • Yesterday’s highlighted connecting bearish trend line was broken at $1020 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair may continue to move higher, but is likely to face sellers near the $1090 and $1135 levels.

Ethereum price started a recovery after a major decline against the US Dollar and Bitcoin. ETH/USD is currently facing a major resistance near $1100.

Ethereum Price Resistance

There was a sharp decline in ETH price below the $900 level against the US Dollar. The price traded below the $850 and $800 support levels. It traded toward the $750 level and formed a low at $755.82. Later, an upside correction was initiated and the price recovered above the $900 level. There was a break of the 38.2% Fib retracement level of the last drop from the $1374 high to $755 low.

It has opened the doors for more gains and the price moved above $1000. During the upside, yesterday’s highlighted connecting bearish trend line was broken at $1020 on the hourly chart of ETH/USD. The pair gained pace and is currently trading near the 50% Fib retracement level of the last drop from the $1374 high to $755 low. A break above the $1050-1065 levels won’t be easy. Should there be a break above $1065, the next major resistance levels are $1090 and $1135.

Ethereum Price Technical Analysis ETH USD

Both $1090 and $1135 are crucial barriers for buyers and a break above these would be very difficult. On the downside, an initial support is around the $1020 level. Below the stated $1020 level, the price could test the $900 level, which is a major support.

Hourly MACD – The MACD is about to move back in the bullish zone.

Hourly RSI – The RSI succeeded in moving above the 50 level, which is a positive sign.

Major Support Level – $1020

Major Resistance Level – $1135

 

Charts courtesy – SimpleFX

Key Points

  • Bitcoin cash price started a recovery after trading as low as $1340 against the US Dollar.
  • This week’s highlighted major bearish trend line with current resistance at $2000 is still in place on the hourly chart of BCH/USD (data feed from Kraken).
  • The pair may correct further in the near term, but it faces a major challenge near $2000.

Bitcoin cash price is recovering from the $1340 swing low against the US Dollar. BCH/USD is still below a major resistance area at $2000.

Bitcoin Cash Price Recovery

During the past three days, we saw a major decline in bitcoin cash price below the $2000 level against the US Dollar. The price fell sharply and it even broke the $1500 support. It traded close to the $1300 level and formed a low at $1340. Later, a decent upside recovery was initiated and the price moved above the $1500 level. There was a close above the 23.6% Fib retracement level of the last decline from the $2400 high to $1340 low.

It is a positive sign, but the price still faces many resistances on the upside around $2000. More importantly, this week’s highlighted major bearish trend line with current resistance at $2000 is still in place on the hourly chart of BCH/USD. The pair may correct further. But it won’t be easy for buyers to break the $2000 level. At the moment, the price is trading near the 50% Fib retracement level of the last decline from the $2400 high to $1340 low at $1870.

Bitcoin Cash Price Technical Analysis BCH USD

A push above $1870 will most likely call for a test of the $2000 resistance. On the downside, supports are seen near the $1600 and $1500 levels.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is now back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD has moved above the 50 level.

Major Support Level – $1600

Major Resistance Level – $2000

 

Charts courtesy – Trading View, Kraken

Key Points

  • Bitcoin gold price declined further and it failed to stay above the $200 level against the US Dollar.
  • There is a short-term connecting bearish trend line forming with resistance at $185 on the hourly chart of BTG/USD (data feed from Bitfinex).
  • The pair is currently holding $150, but it is struggling to stay above the mentioned support.

Bitcoin gold price broke a major support area at $150 against the US Dollar. BTG/USD could correct higher, but upsides remain capped by the $200 level in the near term.

Bitcoin Gold Price Resistance

There was no major recovery above $220 in bitcoin gold price against the US Dollar. The price faced a lot of selling pressure and it declined below the $200 support as well. The decline was such that the $180 support was also pierced. It traded as low as $150.88 and later it started an upside correction. It tested the 23.6% Fib retracement level of the last drop from the $338 high to $150 low.

However, there are many resistances on the upside around $200. There is also a short-term connecting bearish trend line forming with resistance at $185 on the hourly chart of BTG/USD. Above the trend line resistance, the $200 level is a major resistance. It was a support earlier and now it may stop gains above $200-210. Should there be a close above $200, the price could test the 50% Fib retracement level of the last drop from the $338 high to $150 low.

Bitcoin Gold Price Technical Analysis BTG USD

Overall, there is a lot of pressure on BTG and it could face a lot of offers near $200. If it fails to break $200, there is a chance of it breaking $150 as well.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is showing bearish signs in the negative zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is slightly moving higher towards the 40 level.

Major Support Level – $150

Major Resistance Level – $200

 

Charts courtesy – Trading View, Bitfinex

Key Highlights

  • Ripple price made a sharp downside move and broke the $1.00 support against the US dollar.
  • There is a crucial bearish trend line forming with resistance at $1.50 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently struggling to hold the $1.00 level and it may decline back towards $0.8500.

Ripple price is struggling a lot against the US Dollar and Bitcoin. XRP/USD might decline further and it could retest the $0.8500 support area.

Ripple Price Trend

There was no respite for buyers as Ripple price extended its decline from the $1.2000 swing high against the US Dollar. After a minor correction towards the $1.50 level and the 38.2% Fib retracement level of the last drop from the $2.08 high to $1.49 low, the price faced sellers. It started a fresh downside wave and broke the $1.49 low and the $1.20 support. The decline was strong as sellers pushed the price below the $1.00 support. It traded close to the $0.8000 level.

A low was formed at $0.8399 from where an upside correction was initiated. It recovered above the 23.6% Fib retracement level of the last decline from the $1.9027 high to $0.8399 low. However, there are many resistances on the upside such as $1.35 and $1.50. An initial hurdle is around the 50% Fib retracement level of the last decline from the $1.9027 high to $0.8399 low at $1.3713. Above this last, there a crucial bearish trend line forming with resistance at $1.50 on the hourly chart of the XRP/USD pair.

Ripple Price Technical Analysis XRP USD

Therefore, there is a major resistance near $1.35-1.50. As long as the price is below $1.50, there is a risk of a breakdown toward $0.8500 once again.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level.

Major Support Level – $1.00

Major Resistance Level – $1.50

 

Charts courtesy – Trading View, Kraken

Key Highlights

  • ETH price declined sharply and traded below the $1100 and $1000 support levels against the US Dollar.
  • There is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is currently under a lot of bearish pressure and it could remain below the $1100 level.

Ethereum price made a sharp U-turn against the US Dollar and Bitcoin. ETH/USD is recovering, but it is struggling to break the $1100 resistance.

Ethereum Price Decline

There were further bearish pressures on ETH price as it moved below the $1100 support against the US Dollar. The decline was such that the price even failed to respect the $1000 support. The price fell even below $900 and traded as low as $858.12. It seems like there is a lot of bearish pressure since the price broke the $1100 support area. It is currently recovering and moved above the 23.6% Fib retracement level of the last decline from the $1373 high to $858 low.

However, the upside move is protected by the previous support at $1100. Moreover, the 50% Fib retracement level of the last decline from the $1373 high to $858 low is also acted as a resistance. At the moment, there is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD. The pair is once again showing bearish signs below $1000 and it may decline back toward $900 in the near term. If buyers fail to hold the $900 support, there can be a retest of the last swing low of $858.

Ethereum Price Technical Analysis ETH USD

On the upside, a proper close above the $1100 level is needed for buyers to gain traction in the near term.

Hourly MACD – The MACD is now strongly placed in the bearish zone.

Hourly RSI – The RSI is showing a lot of bearish signs and is below the 50 level.

Major Support Level – $900

Major Resistance Level – $1100

 

Charts courtesy – SimpleFX

Key Points

  • Bitcoin cash price faced heavy selling pressure and it declined toward $1500 against the US Dollar.
  • Yesterday’s highlighted major bearish trend line with resistance at $2100 is intact on the hourly chart of BCH/USD (data feed from Kraken).
  • The pair may correct a few points, but it is likely to face resistances near $2000 and $2100.

Bitcoin cash price declined sharply toward $1500 against the US Dollar. BCH/USD is now in a bearish trend as long as it is below $2100.

Bitcoin Cash Price Downtrend

There was a start of a fresh downside wave in bitcoin cash price from the $2600 swing high against the US Dollar. The price crashed and declined below a few important support levels such as $2200 and $2100. The decline was such that the price even declined below the $1600 support. It traded close to the $1500 level and formed a low at $1501.7. Later, an upside correction was initiated and the price moved above the 23.6% Fib retracement level of the last drop from the $2403 high to $1501 low.

However, there are many resistances on the upside around the $2000 level. Above $2000, yesterday’s highlighted major bearish trend line with resistance at $2100 is intact on the hourly chart of BCH/USD. Moreover, the 50% Fib retracement level of the last drop from the $2403 high to $1501 low is at $1952 to prevent upsides. Therefore, it seems like there are many barriers for buyers around the $1950 and $2100 levels. As long as the price is below the $2100 level, it remains in a downtrend.

Bitcoin Cash Price Technical Analysis BCH USD

On the downside, an initial support is around $1600, followed by the last swing low of $1501. A break below $1501 could increase a lot of pressure for a move toward $1200.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently well below the 50 level.

Major Support Level – $1500

Major Resistance Level – $2100

 

Charts courtesy – Trading View, Kraken

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

  • Ripple price is currently under a lot of pressure and is currently trading below $1.70 against the US Dollar.
  • There is a short-term bearish trend line forming with resistance at $1.7050 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently correcting higher, but it faces a lot of barriers on the upside such as $1.70 and $1.80.

Ripple price is in a downtrend against the US Dollar and Bitcoin. XRP/USD is likely to remain in the bearish zone as long as it is below $1.90.

Ripple Price Trend

There was a lot of pressure on Ripple price as it failed to remain above the $2.00-2.10 support against the US Dollar. The price declined and it recently moved below the $1.80 support area. The decline was severe as the $1.70 support also failed to prevent declines. XRP kept declining and even traded as few points below the $1.50 level. It traded as low as 1.4839 and is currently correcting higher.

It has moved above the 23.6% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low. The current upside wave is corrective and it faces a lot of hurdles below $2.00. There is also a short-term bearish trend line forming with resistance at $1.7050 on the hourly chart of the XRP/USD pair. The trend line resistance is near the 38.2% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low. Therefore, it won’t be easy for buyers to break the $1.7000.1.7050 levels.

Ripple Price Technical Analysis XRP USD

Above the mentioned $1.7050, the 100 hourly simple moving average is at $1.90. The stated $1.90 level coincides with the 61.8% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is placed heavily in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently around the oversold levels.

Major Support Level – $1.50

Major Resistance Level – $1.90

 

Charts courtesy – Trading View, Kraken