Ethereum Classic Price Analysis: ETC/USD Accelerating Losses Below $10 by crypto57

Key Highlights

Ethereum exemplary cost expanded misfortunes and exchanged underneath the $10.00 bolster against the US dollar.

There was a break beneath a declining channel with help at $10.54 on the hourly outline of the ETC/USD combine (Data feed by means of Kraken).

The match is right now under a great deal of weight underneath the $10.50 and $10.00 bolster levels.

Ethereum exemplary value fell pointedly against the US Dollar and Bitcoin. And so on/USD is at present exchanging beneath $10.00 and it could broaden misfortunes towards $9.20.

Ethereum Classic Price Analysis

There was a sharp increment in offering weight from the $11.00 swing high on ETC cost against the US dollar. The ETC/USD combine began a noteworthy drawback move and broke key backings close to the $10.50 level. There was a legitimate close beneath the $10.50-60 bolster and the 100 hourly basic moving normal. The cost even broke the $10.00 bolster level to move promote into a bearish zone.

The decrease was started after there was a break underneath a declining channel with help at $10.54 on the hourly graph of the ETC/USD match.

The match exchanged as low as $9.66 and it is still in a bearish zone. An underlying opposition is close to the 23.6% Fib retracement level of the ongoing drop from the $10.80 high to $9.66 low. Over the $9.90 and $10.00 opposition levels, the cost may recoup towards the $10.25 level. It speaks to the half Fib retracement level of the ongoing drop from the $10.80 high to $9.66 low. Along these lines, as long as the cost is underneath the $10.00 handle, there is a danger of more misfortunes.

Ethereum Classic Price Analysis ETC Chart

The outline proposes that ETC cost may keep on moving down towards the $9.50 level. Underneath this, venders could endeavor to drive the cost towards the $9.20 bolster level in the close term.

Hourly MACD – The MACD for ETC/USD is put emphatically in the bearish zone.

Hourly RSI – The RSI for ETC/USD is moving lower towards the 10 level.

Significant Support Level – $9.50

Significant Resistance Level – $10.00

Labels: ETC, Ethereum Classic

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