Ethereum classic price is slowly moving higher

Ethereum classic price is slowly moving higher
Ethereum classic price is slowly moving higher and is currently above $14.50 against the US dollar.
There is a major bullish trend line formed with support near $14.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is in an uptrend and it may perhaps continue to move above the $15.60 and $15.80 resistances.
Ethereum classic price is placed in a bullish zone against the US Dollar and Bitcoin. ETC/USD may soon break the $15.60 resistance for more gains in the near term.

Ethereum Classic Price Trend

There was a decent upward move initiated from the $12.50 swing low in ETC price against the US dollar. The ETC/USD pair moved higher and traded above the $13.50 and $14.00 resistance levels. There was also a break above the $14.50 barrier and the 100 hourly simple moving average. More importantly, there was a break above the 50% Fib retracement level of the last drop from the $16.50 high to $13.05 low.

The price is now placed nicely above the $15.00 level and the 100 hourly SMA. On the upside, there is a major barrier awaits near $15.60. A break above the stated barrier could push the price towards the next key resistance at $16.20-30. An intermediate resistance is at $16.00. At the moment, the price is correcting lower from the $15.50 high. It tested the 38.2% Fib retracement level of the last wave from the $14.01 low to $15.50 high. There is also a major bullish trend line formed with support near $14.40 on the hourly chart of the ETC/USD pair.

Ethereum Classic Price Analysis ETC USD

Ethereum classic price is slowly moving higher


The chart suggests that the price remains well supported above the $14.50 level. On the upside, a break above $15.60 is needed for more gains in the near term.

Ethereum classic price is slowly moving higher Ethereum classic price is slowly moving higher Reviewed by mir khaleq ali on June 20, 2018 Rating: 5

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