Ethereum Classic Price Analysis: ETC Coin Price Drops Down Below The 100MA Resistance
- ETC coin price is currently seeing a downside momentum in the daily chart and can soon hit the next support. It has seen a loss of more than 2% in the past 24 hours.
- Technical indicators of Ethereum Classic hints towards a downside momentum in the daily chart. In contrast, ETC/BTC pair is also down by more than 0.85%
ETC coin price is currently seeing a downside momentum in the daily chart and can soon hit a new low. Ethereum’s classic price is currently trading near the value of $51 and is down by more than 2% in the past 24 hours. The asset price is currently seeing a downside momentum but can soon revert to the uptrend. It has a very high ROI which has made retail and institutional investors very profitable. One can invest in ETC as per their needs and price action scenario.
ETC is currently seeing a strong downside momentum and can soon see a new low. Its market dominance along with CMC ranking is also observed a decline in the past few weeks. The volume of the coin is also observing a decline and can soon see a new high. The volume to market cap ratio of the asset suggests a strong upside trend in price. One can forecast huge momentum in the price for the future
ETC Coin Price Bears Are Ready To Push It Down To Lower Level
The weekly technical chart of the ETC coin price is currently seeing a bearish momentum but can soon revert to the uptrend. Ethereum’s classic price on the daily chart is also seeing a downside trend. The hostile region of ETC while going upwards can be seen near $65. In contrast, the support zone of the coin can be seen near $45. On coming to the daily chart there is a supply zone formation in daily chart. There is a possibility that the asset price may soon see a strong uptrend in the upcoming days. If the asset price drops 15 to 20% below the current trend then a strong downside momentum can be observed. ETC/BTC pair can also see a new high in the future.
Conclusion
ETC coin price is observing a bearish momentum and can soon see a new high. ETC/BTC pair can also see new highs being formed in upcoming days. One should do their due diligence before investing.
Technical Levels
Major Resistance: $65
Major Support: $40
