Ethereum Classic Price Technical Analysis – ETC Break Imminent

BitsPlan

Key Highlights

  • Ethereum classic price fell lower versus Bitcoin, as there was no relief for the ETC buyers.
  • Yesterday’s highlighted bearish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) is still in action and protecting an upside move.
  • The price is currently trading near the last swing low of 0.00182BTC, which may be broken soon.

Ethereum classic price moved down further and traded near 0.00182BTC as forecasted. Can ETC sellers manage to break it?

Ethereum Classic Price Resistance

Ethereum classic price fell against Bitcoin and tested last swing low of 0.00182BTC, as forecasted in yesterday’s post. If you sold, I guess you booked gains on it. The price after testing 0.00182BTC found support once again and currently consolidating. Moreover, yesterday’s highlighted bearish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) is still intact.

The highlighted trend line resistance is moving down, so we can say the hurdle for ETC buyers is moving lower. The support remains the same at 0.00182BTC. So, we can say that the price is stuck between an important support and resistance, and the range is shrinking. In short, there is a chance of a break soon. On the upside, a break

Read more ... source: NewsBTC USA

NO COMMENTS