Ethereum Classic (ETC) Price Analysis: Etc Fluctuates in a Tight Range, Lacks Buyers at a Higher Price Level

Ethereum Classic (ETC) Price Analysis: Etc Fluctuates in a Tight Range, Lacks Buyers at a Higher Price Level

Key Highlights
ETC fluctuates in a tight range between $10 and $12.50
The altcoin faces resistance at level $14

Ethereum Classic (ETC) Current Statistics
The current price: $12.43
Market Capitalization: $2,618,808,479
Trading Volume: $1,304,360,093
Major supply zones: $18, $19, $20
Major demand zones: $11, $10, $9

Ethereum Classic (ETC) Price Analysis March 15, 2021
Ethereum Classic has been in a range-bound move since February 23 breakdown. The altcoin has been fluctuating between $10 and $12.50. On March 13, ETC rebounded above $12 support and rallied to $14 high. Buyers could not sustain the bullish momentum as the bears pushed the price back to the range-bound zone. Today, the bulls have recouped to resume a fresh uptrend.

ETC/USD- Daily Chart

Ethereum Classic (ETC) Technical Indicators Reading
The crypto’s price has broken above the resistance line of the descending channel. The implication is that the crypto is likely to rise on the upside. The Relative Strength Index is at level 53. It indicates that price has enough room to rally on the upside.

ETC/USD – Daily Chart

Conclusion
Ethereum Classic will resume upward if the resistance at level $14 is breached. On March 13 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. This retracement implies that ETC will rise to level 2.618 Fibonacci extensions or a high of $18. 68.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.