Ethereum Classic Price Technical Analysis – ETC/USD Recovering Nicely

Bitcoin Watch Shop

Key Highlights

  • Ethereum classic price has outperformed ETH and moved above $14.00 against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $14.00 on the hourly chart of ETC/USD (Data feed via Kraken).
  • The price is currently struggling to clear $15.00, but remains supported on the downside.

Ethereum classic price managed to recover well versus the US Dollar and Bitcoin, and ETC/USD is now placed well above the $14.00 handle.

Ethereum Classic Price Resistance

It was a sell ride for ETC price recently as it followed ETH and BTC and moved below $15.00 against the US Dollar. The price declined heavily before finding support at $12.75. Buyers were able to defend the mentioned level, and the price recovered well. The upside move was decent, as the price was above the close above $13.00. During the upside move, there was a break above a major bearish trend line with resistance at $14.00 on the hourly chart of ETC/USD.

It has opened the doors for more gains above $14 in the near term. The price has breached the 23.6% Fib retracement level of the last decline from the $19.75 high to $12.74 low. However, there is


Read more ... source: NewsBTC USA

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
BTC: 1FVCSiK2ErerjH1kBP4VLS5LqR3YzmVeXf
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824