Key Highlights<\/p>\n
Ethereum classic price is holding the positive bias against the US Dollar and Bitcoin. ETC\/USD could slowly move towards the all-important $12.00 resistance.<\/p>\n
After trading as low as $10.40, ETC price started an upward move against the US dollar. The ETC\/USD pair settled above the $10.80 support area and formed an intermediate low at $10.78. Later, it traded above the $11.00 and $11.20 resistance levels. However, the price failed to clear the $11.55 resistance and declined towards the $11.00 level. Buyers appeared near $11.00 and pushed the price above the 50% Fib retracement level of the recent decline from the $11.57 high to $10.96 low.<\/p>\n
However, it seems like the price is struggling to settle above the $10.40 level and the 100 hourly simple moving average. There is also a key bearish trend line formed with resistance at $11.35 on the hourly chart of the ETC\/USD pair. Above the trend line, the 61.8% Fib retracement level of the recent decline from the $11.57 high to $10.96 low is at $11.34. Therefore, buyers need to clear the $11.35 resistance to gain momentum in the near term. Above this, the price is likely to break the $11.57 high. The next targets for buyers could be $11.80 and $12.00.<\/p>\n<\/p>\n
The chart suggests that ETC price is preparing for the next move above $11.35. On the flip side, if there is a downside break, the $11.00 and $10.80 supports are likely to prevent losses.<\/p>\n
Hourly MACD The MACD for ETC\/USD is gaining in the bullish zone.<\/p>\n
Hourly RSI The RSI for ETC\/USD is currently above the 55 level.<\/p>\n
Major Support Level $10.80<\/p>\n
Major Resistance Level $11.35<\/p>\n
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More here:<\/p>\n
Ethereum Classic Price Analysis: ETC\/USD Could Revisit $12<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Key Highlights Ethereum classic price is holding the positive bias against the US Dollar and Bitcoin. ETC\/USD could slowly move towards the all-important $12.00 resistance. Continue reading