ETC/USD has experienced the most market movement today, moving 6.34% percent up. This much movement has made this crypto arrive at the $17.942 price level. However, traders can still anticipate additional, but minimal price increases for the Ethereum Name Service crypto.
Ethereum Classic Current Price: $17.942
Ethereum Classic Market Cap: 2.5 billion
Ethereum Classic Total Supply: 210.7 million
Ethereum Rank: 28
Resistance: $15.0, $16.80, $17.94
Support: $16.80, $15.00, $14.80
ETC/USD Price Prediction: Ethereum Classic Shows Signs of Additional
By examining the ETC/USD daily chart, one can see that the crypto may only move a few points upwards before possibly trending downwards. By examining the 9/21 MA (Moving Averages) we can that these curves have been able to cross below the price action. Although, this crossing is at the initial stage, with further examination of the SRSI: Stochastic Relative Strength Indicator one will get more insight.
The SRSI indicator curves have reached the oversold zone of 96% and 82% levels. However, there is a significant distance between the two curves. Also, we can only anticipate a few steps upward move before a downward correction occurs. At most the current upside gain will take the crypto price to $20. Most traders who had earlier bought the dip at $15.310 will be anticipating selling at the price level of $20.
ETC/USD Price Prediction: Ethereum Classic Signs of Weakness Confirmed
On a shorter time frame, an indication of uptrend weakening becomes clearer. At this point, we can say that the ETC/USD value will soon reverse the trend going by reading on indicators. Firstly, the MA curves are getting more separated, as if the faster curve seeks to cross above the value motion. This is indicating that the trend is weakening.
Secondly, the faster SRSI curve can be seen bending towards the slower one. Also, this curves very near the 100% level – which is the highest attainable height. Therefore, this confirms that a trend reversal is near, and may occur at the mentioned $20 price level.
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