Ethereum Classic (ETC) Produces A Godlike Candle, How Far Can It Go?
06 Septembre 2022 - 2:52PM
NEWSBTC
Ethereum Classic (ETC) produced a godlike candle as the market’s
sentiments changed to bullish against tether (USDT). The crypto
market has become promising as most altcoins appear bullish, coming
out of their shells with the like of Ethereum Classic producing
double gains ahead of the “Ethereum Merge” sentiment pulling
altcoins higher. (Data from Binance) Related Reading: $500 Million
In Bitcoin Shorts Pile In As BTC Price Sits Below $20,000, Will
They Get Squeeze? Ethereum Classic (ETC) Price Analysis On The
Weekly Chart The price of ETC has had a tough time in recent
weeks, with the price falling to a weekly low of $14; the price of
ETC bounced off from this region as price rallied to a high of $30
after forming a bearish downtrend channel. ETC price was able to
break out of the downtrend channel, forming a strong bullish bias
as the crypto market could be set for a minor rally. The
price of ETC saw it rejected from $30, but the price was able to
break above this price and retested the channel, thereby flipping
the downtrend resistance into support. This has seen the price of
ETC remain bullish above $30 as prices continue to rally to $40. If
the ETC price maintains this structure, we could see the price of
ETC rejecting another high acting as resistance in the region of
$50-57, but if bears push the price of ETC, we could see a retest
of $30 acting as a good support area. Weekly resistance for the
price of ETC – $50-$57. Weekly support for the price of ETC – $30.
Price Analysis Of ETC On The Daily (1D) Chart After breaking out of
the downtrend channel and retesting, the price of ETC looks bullish
and will continue to trend higher to a region of $56, where it will
face resistance. The current state of ETC shows its bullish
structures with good buy volume accompanying it. With buy orders
accompanying the price of ETC, we could see the resistance at $56
being flipped into support; if the price of ETC fails to trend
higher above $56, the support area at $38 will hold the price
sell-off. The price of ETC is trading at $40 above its 50 and 200
Exponential Moving Averages (EMA) on the daily timeframe. The
prices at $32 and $30, which correspond to the 50 and 200 EMA, act
as support for the ETC price. Daily (1D) resistance for the ETC
price – $56. Daily (1D) support for the ETC price – $32-$30. ETC
Price Analysis On The One Four-Hourly (4H) Chart The price of ETC
in the 4H timeframe continues to look bullish as the price shows
bullish continuation pattern trading slightly above the 50 and 200
EMA acting as support. ETC price continues to look more bullish
after breaking out of the symmetric triangle confirming a more
bullish bias. The price of ETC holds above the 50 and 200 EMA and
could trend higher if it breaks the resistance at $50; if the price
of ETC gets rejected, the support at $38 will hold the price of
ETC. On the 4H Chart, ETC’s Relative Strength Index (RSI) is
above 70, indicating buy order volume for the ETH price.
Four-Hourly (1H) resistance for the ETC price – $50. Four-Hourly
(1H) support for the ETC price – $38. Related Reading: MANA Seen
Rising 11% As Buyers Make A Recovery Attempt Featured Image From
Wikipedia, Charts From
MIS (COIN:MISSUSD)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
MIS (COIN:MISSUSD)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
Real-Time news about MIS (Cryptomonnaies): 0 recent articles
Plus d'articles sur MIS