RATE Group | Ethereum Classic Price Analysis: ETC/USD Eyeing Upside Break Above $10
45785
wp-singular,post-template-default,single,single-post,postid-45785,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Classic Price Analysis: ETC/USD Eyeing Upside Break Above $10

16 Oct Ethereum Classic Price Analysis: ETC/USD Eyeing Upside Break Above $10

Posted at 08:34h in Ethereum News by

[ad_1]

Key Highlights

  • Ethereum classic price is forming a decent support base near the $9.20 level against the US dollar.
  • There is an ascending channel formed with support at $9.35 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair is likely to move higher and it could even break the $10.00 resistance in the near term.

Ethereum classic price is positioning for a recovery against the US Dollar and Bitcoin. ETC/USD could gain traction once it breaks the $10.00 resistance.

Ethereum Classic Price Analysis

There was a break below the $10.00 support this past week in ETC price against the US dollar. The ETC/USD pair traded below the $9.20 and $9.00 support levels. A new monthly low was formed at $8.92 before the price started an upside correction. The price moved above the $9.00 level and the 100 hourly simple moving average. There was also a break above the 23.6% Fib retracement level of the last drop from the $10.80 high to $8.92 low.

The price traded above the $9.80 level, but…

[ad_2]

Source link