Ethereum Classic Price Technical Analysis – ETC Approaching Support

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Key Highlights

  • Ethereum classic price after trading as high as 0.00204BTC against the Bitcoin started correcting lower.
  • There is a short-term bullish trend line formed on the hourly chart of ETC/BTC (data feed via Simplefx), which may provide support.
  • The 0.00195BTC is a support area where the ETC buyers are likely to appear soon.

Ethereum classic is currently in the bullish zone versus Bitcoin, but need to hold the 0.00195BTC to remain in action in the near term.

Ethereum Classic Price Buy Dips

Ethereum classic price was seen trading with a positive tone versus Bitcoin during the past 24 hours. It traded as high as 0.00204BTC where the sellers appeared to protect any further upsides. However, during the upside move the price managed to settle above the 50% Fib retracement level of the last drop from the 0.00219BTC high to 0.00182BTC low.

Moreover, there was a close above the 100 hourly simple moving, which means the ETC bulls are back in action. There is a chance that the price may break the last swing high of 0.00204BTC and trade further higher. It is currently correcting lower. It has moved below the 23.6% Fib retracement level of the wave from the 0.00182BTC low to

Read more ... source: NewsBTC USA

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