Ethereum Classic price showed an uptrend for the past sessions and maintained the gains above the 200-day DMA near the cluster of $19.50 in the bullish territory.
The chart shows Bullish Momentum at present. Moreover, ETC price action favors the bulls, and long buildup activity was noted on the daily charts.
Ethereum Classic price is on an upward trajectory to $20.00, which if surpassed, the price will revisit the highs of $25.00. Conversely, the lower trajectory is near $17.00, which, if it breaks, the price will revisit $15.50.
At press time, ETC was trading at $19.50 with an intraday drop of 0.50%, showing neutrality. Moreover, the 24-hour trading volume is $121.587 Million. However, the market cap of ETC is $2.81 Billion.
The company’s performance has been good throughout the year. It has gain returns of 24.00% in the year-to-date period, 6.10% in the last six months, 27.07% in the last month, and dropped by 2.89% in the last week.
Technical Analysis of Ethereum Classic Crypto Price in 1-D Timeframe
Currently, Ethereum Classic crypto (USD: ETC) is trading above the 50 and 200-day DMAs (Daily moving averages), which are supporting the price momentum.
The current value of RSI is 65.66 points. The 14 SMA is above the median line at 71.12 points which indicates that the Ethereum Classic crypto is bullish.
The MACD line at 0.526 and the signal line at 0.550 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the ETC crypto price.
Short-Term Charts Price Analysis
On the 4-hour charts, the Ethereum Classic price is neutral and stays between the $20.50 – $18.50 range with the highest volumes. However, the trend is strong, and buyers are attempting to break the zone and try to sustain above the round spot of $20.00.
The RSI curve is near 52, near neutrality, and is about to form a negative crossover due to the consolidation in price, which impacts a negative outlook on the charts.
The MACD indicator showed a bullish crossover, and the green bars were noted, and a crossover was imminent. However, the price could consolidate.
Summary
Ethereum Classic crypto (USD: ETC) technical oscillators support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the ETC crypto price. ETCUSD Price action suggests that the investors and traders are bullish on the 1-Day time frame.
Technical Levels
Support Levels: The ETCUSD crypto price may find support at $17.00 and $16.00, where it could bounce back or stabilize.
Resistance levels: The ETC crypto price may face resistance at $21.00 and $22.00, where it could reverse or consolidate.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
Source: https://www.thecoinrepublic.com/2023/11/21/ethereum-classic-price-prediction-will-etc-price-fly-above-25/