Ethereum Classic Price Remains in Uptrend

Ethereum Classic Price Remains in Uptrend
Ethereum classic price is placed nicely above the $21.00 support level against the US dollar.
There is a key connecting bullish trend line forming with support at $21.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is trading above the 100 hourly simple moving average and it could trade above $22.50.
Ethereum classic price is in an uptrend against the US Dollar and Bitcoin. ETC/USD could continue to move higher towards $22.50 and $23.00 in the near term."Ethereum Classic Price Remains in Uptrend"

Ethereum Classic Price Remains in Uptrend

There were multiple attempts by sellers to push ETC price below $20.00 against the US dollar. The ETC/USD pair held the ground above $20.00 and started an upside move. It moved above the 23.6% Fib retracement level of the last decline from the $22.90 high to $20.44 low. More importantly, there was a break above a short-term bearish trend line with resistance at $21.00.

The upside move was strong as the price moved above the $21.50 resistance and the 100 hourly simple moving average. It is currently trading near the 61.8% Fib retracement level of the last decline from the $22.90 high to $20.44 low. A break above the $22.40 and $22.50 resistance levels is needed for more gains. The next stop for buyers in the mentioned case could be $23.00. A successful push above the $23.00 level may open the gates for a run towards the $25.00 level.

The chart indicates that the price remains well supported on the downside above $21.00. There is also a key connecting bullish trend line forming with support at $21.10 on the hourly chart of the ETC/USD pair. Therefore, if the price corrects lower, it may perhaps find bids near the 100 hourly SMA and $21.10.

What effect will this Airdrop have on the ETC markets?

When this airdrop was announced back in February this year, the price of a single ETC token rose instantly by more than $6 USD. Actually it was trading at the price of Bitcoin at that moment.

Therefore, the Airdrop is expected to drive the prices past the roof when it takes place. If you are holding Ethereum Classic (ETC) currently this is your time!

Ethereum Classic Price Remains in Uptrend Ethereum Classic Price Remains in Uptrend Reviewed by mir khaleq ali on May 07, 2018 Rating: 5

No comments:

Powered by Blogger.