• 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
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
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Ethereum Classic Displayed Double-Digit Gains; What’s Next!

anushsamal by anushsamal
5 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Ethereum Classic had experienced a sharp fall in price on the 17th January, however, at press time ETC was seen recovering. Over the last 24 hours, ETC had gained close to 7% and was seen trading at $28. In the past week, ETC logged gains of about 17% and had broken past the $25 price mark.

ETC struggled near the aforementioned price level for the past few weeks. However, with close to 17% gains in the past week ETC has now managed to break the downtrend. Bitcoin was bordering $39k at the time of writing. As Bitcoin had climbed up on its chart, major altcoins followed the same price movement.

Price Analysis: ETC/USD Four Hour Chart

Source: TradingView ETC/USD

At the time of writing, ETC was priced at $28. In the past trading sessions, the coin was seen oscillating between $25 and $27 price levels respectively. Immediate resistance for ETC was at $30.31 and additional resistance levels for the coin stood at $34.22 and then at $38.68.

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

On the flipside, ETC was resting on the support line of $25.84. For Ethereum Classic to move past the immediate resistance level of $30.31, the coin has to continue to trade above the $28 mark and form higher highs and lows.

ETC hadn’t traded beneath the $28 mark since January 18. The coin’s value dropped as the coin met with an intense sell-off. Over the past week, ETC’s buying pressure rose slowly and at press time, the asset stood near the overbought zone.

Related Reading | Bitcoin Steadies At $37,000, But What Are Options Traders Doing?

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

The Relative Strength Index was parked above the 80-mark, which meant that the asset was overvalued at the time of writing. RSI was last seen hovering around the same level in the month of November, the previous year. A push from the buyers can potentially cause ETC’s prices to experience a correction over the upcoming trading sessions.

On Balance Volume also recovered considerably as OBV had met with an uptick which signalled that volume inflow had increased and signified bullishness in the market. Awesome Oscillator depicted green signal bars which were seen amplifying at press time.

The technical outlook for Ethereum Classic remained quite optimistic. With a continued push from the bulls, ETC could soon trade above the immediate resistance mark.

What’s Next For Ethereum Classic

Image Source: TradingView ETC/USD

Ethereum Classic was moving close to the $28 mark, however, in the last few days, ETC prices were seen trading around the same price area. Resistance was strong at 50% Fib. A fall from the current price level would push ETC back to $25 and then finally to $22.

A move above the current price level might cause ETC to experience another pullback at $31.80, the 78.6% Fibonacci level. A major resistance point for ETC lay at $34.55 level, Ethereum Classic traded at this price mark just a few weeks back.

Strength from the broader crypto market would be required for Ethereum Classic to continue trading in an upward direction. If Bitcoin trades above the $40k mark, then major altcoins could also remain optimistic on their charts.

Related Reading | TG DAO 3.0: How a Truly Decentralized Organization Works

Tags: Ethereum Classicprice analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

Bitcoin

First In History: Bitcoin Mayer Multiple Records Lower Value Than Last Cycle’s Low

3 hours ago
crypto

Crypto Liquidations Settle As Bitcoin Recovers Above $21,000

5 hours ago
Tether USDT Crypto

Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter

5 hours ago
ApeCoin

ApeCoin Climbs 22% After Snoop Dogg-Eminem Bored Ape Video Launch

12 hours ago
ViaBTC Capital | Reasons Behind Solana’s Frequent Downtime: Design Flaws in the Gas Economy

ViaBTC Capital | Reasons Behind Solana’s Frequent Downtime: Design Flaws in the Gas Economy

14 hours ago
Bit.com Plans to Double Workforce as Layoffs Mount in Crypto and Financial Markets

Bit.com Plans to Double Workforce as Layoffs Mount in Crypto and Financial Markets

14 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Have These Coins Cardano (ADA), Solana (SOL), and FIREPIN Token (FRPN) Become The Pillars Of The Crypto Space?

June 27, 2022

Torches Finance, The Top Lending Protocol has Launched on KCC, Genesis NFT Free Mint is Coming Soon

June 27, 2022

DogeSQ Token Presale Will Live on 28th June, 2022. 6:00 AM UTC

June 27, 2022

XT.com Lists Tales of Xtalnia (XTAL) With USDT Trading Pair

June 27, 2022

Find Out How Gnox (GNOX) Is Planning To Take On Fantom (FTM) And Avalanche (AVAX)

June 27, 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

© 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.