RATE Group | Ethereum Classic bulls must overcome resistance at $4.69 to continue upward momentum
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Ethereum Classic bulls must overcome resistance at $4.69 to continue upward momentum

18 Oct Ethereum Classic bulls must overcome resistance at $4.69 to continue upward momentum

Posted at 06:00h in Ethereum News by

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  • ETC/USD has three notable support levels on the downside at $4.40, $4.32 and $4.27.
  • ETC/USD went up from $4.44 to $4.51 this Friday.

ETC/USD bears had full control of the market this Friday, following a bullish Thursday. This Thursday, the price of the asset went up from $4.44 to $4.51 and has since corrected itself around $4.44. The hourly price chart shows us that the price went up to $4.55, encountered resistance and then fell to $4.44 – breaking past support levels at $4.50 and $4.48.

ETC/USD daily confluence detector

fxsoriginal

The daily confluence detector shows three robust support levels at $4.40, $4.32 and $4.27. $4.40 has one-day previous low and one-day Bollinger Band lower curve, while $4.32 has the one-week Pivot Point support one and one-day Pivot Point support two. Finally, $4.27 has the previous month low.

On the upside, the only resistance level of note is at $4.69, which has the one-day Bollinger band middle curve, 100-day Simple Moving Average…

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