Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
The Ethereum Classic token has appeared in the 2nd spot on today’s top crypto movers list. This has arrived as a continuation of the upside rebound that occurred at the $17 mark. However, the market seems impressive, going by indications, and may see more gains as the day unfolds. Nevertheless, let’s take a closer look at it.
Key Price Levels:
Resistance: $26.00, $30.00, and $35.00
Support: $20.00, $15.00, and $10.00
Ethereum Classic Comes Under Moderate Pressure
The price activity in the ETC daily market has risen through the 20- and 50-day Exponential Moving Average (EMA) lines. While the current session holds some profits, we can see that the 100- and 200-day EMA lines have delivered a crossover above price action and seem to have caused minimal contractions, revealing an upper shadow.
Also, the Stochastic Relative Strength Index (SRSI) lines have delivered their crossover in the overbought region. However, the resulting lines have a sideways trajectory at the moment. At this point, while upside forces appear to be making progress, traders should still exercise caution as gravity is trying to cause a contraction in the market.
ETC Buyers Are Holding on Tight to Seen Profits
The Ethereum Classic token’s price action on the 4-hour chart may have. The corresponding price candle for the ongoing session can be seen, keeping the current price of the token above all the EMA lines. Nevertheless, the activities of headwinds can be seen to have caused the appearance of an upper shadow on this price candle.
At the same time, the SRSI indicator curves can be seen still oriented steeply upwards. Also, the distance between the leading and lagging lines of this indicator suggests that the volatility in the market is encouraging and may still propel the market further towards the $26.00 mark, as more traders may tend use crypto signals targeting that price level.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy
