ETC/USD Trades Above $3000 as a Retracement May Follow

The Ethereum Classic price prediction shows that ETC is moving higher and above the main barrier of $20 as the coin faces higher levels.

ETC/USD Market

Key Levels:

Resistance levels: $24, $26, $28

Support levels: $16, $14, $12

ETC/USD may begin the bullish movement as the coin heads toward the 9-day and 21-day moving averages. At the time of writing, the Ethereum Classic (ETC) is making a gain of almost 5.17% and touches the daily high of $20.4. However, the crypto is likely to cross above the moving averages and traders can expect Ethereum Classic to prepare itself steadily for a ride toward the resistance level of $22.

Ethereum Classic Price Prediction: ETC Price Ready for the Upside

In the last few days, the Ethereum Classic price has been moving below the moving averages, but the ongoing trend may move a little bit higher in the next positive direction if the 9-day moving average remains above the 21-day moving average. Therefore, any further bullish movement above the upper boundary of the channel could hit the potential resistance levels at $24, $26, and $28 respectively.

However, a bearish drop below the moving averages may roll the market back below the moving averages and to the initial support level of $2600. Meanwhile, the support levels could be located at $2500, $2300, and $2100. As the trading volume increases, the technical indicator Relative Strength Index (14) moves around 55-level which indicates that more bullish signals may come to play.

When compares with Bitcoin, Ethereum Classic is currently trading above the 9-day and 21-day moving averages. The price is changing hands at 748 SAT as the technical indicator Relative Strength Index (14) moves above the 50-level. However, the daily chart reveals that the coin is moving to cross above the upper boundary of the channel.

Negatively, if the coin slides toward the lower boundary of the channel, the critical support level could be located at 650 SAT and below. Inversely, a higher sustainable move may likely attract new buyers to the market with the next resistance at 830 SAT and above.

Ethereum Classic Alternatives

The Ethereum Classic price may cross above the 9-day and 21-day moving averages. If ETC/USD breaks above the upper boundary of the channel, it could visit an important resistance at $23. However, a successful break above this level could open another increase above the $25 level. Nevertheless, Love Hate Inu continues to explode in value as more and more people take notice. The way it works is that users will need to stake $LHINU tokens to qualify to vote in the polls. As mentioned before, this will prevent manipulation and spam and makes the process of voting anonymous. Meanwhile, the token has raised almost $5.5 million in the presale.

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