Ethereum Classic News

Ethereum Classic Witnesses a Noticeable Price Improvement

While we still cannot deny how risky this time period is for any sort of investment, we must admit that the crypto space is slowly getting a few positive signs and that the crypto space may soon flourish.

The leading crypto coins are managing to keep their price path away from the crucial support level with a mild bullish bias; meanwhile, less popular kind of currencies are also giving their 100% to keep up with the market space.

The Ethereum Classic has been proactively surviving the bearish blows for a long time in the space. The ETC price, which went as low as $3.98 in mid-March, is now ready to trade above $6. The currency even attempted to have a bullish breakout in the month of May when it traded above $7.22.

Ethereum Classic News
ETC/USD Chart By TradingView

Ethereum Classic’s price started making upward strikes yesterday. The coin had found a support level at $5.96, and at this moment, it is looking to grow above $6.16.

Over the last few days, ETC/USD has framed a double-top above the 61.80% fib level. The coin had tested support level at $5.96 day before yesterday also.

Around five days ago, the Ethereum Classic price was trading around $6.19, but then it couldn’t go further. Sharp pullback took the price below $6 for the first time in the week, and the ETC price gradually went up from here. It managed to trade above $6 with a hike of 4.06%. Apparently, the coin kept consolidating between 38.20% and 61.80% fib levels for a couple of days.

The technical indicators of the Ethereum Classic are largely in a positive area if you keep the MACD indicator aside. The current price is trading above all the moving averages, and the RSI seems stable at 64.

Daniel Garza

Daniel Garza is well-known for his writing skills and works as a lead content writer in our team. He also has a deep interest in cryptocurrency funds and guides people on how to deal with a cryptocurrency exchange.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button