Here’s hoe ETC could dump 22%

0

[ad_1]

Ethereum Classic price is down 2.5% in the past 24 hours.
ETC has failed to ride broader market sentiment, currently poised near $20.
A breakdown amid increased sellig could push ETC/USD down 22% to lows of $16.

Ethereum Classic (ETC) has not had a good March as has some of the top cryptocurrencies, including the top two of Bitcoin (BTC) and Ethereum (ETH).

As BTC flirted with resistance around $29,000 on Thursday, and ETH price consolidated near $1,800, Ethereum Classic price looked primed for fresh losses at $20. ETC is flat on the weekly time frame and negative this past 30 days.

ETC price: bulls need to hold $20 or risk double digit decline

The Ethereum Classic price outlook on the daily chart has the ETC/USD pair rejecting at the key supply zone just above $20. The macro downtrend remains in place as bears push bulls from the resistance line of the long term symmetrical triangle pattern.

Ethereum Classic price chart. Source: TradingView

The daily RSI is almost flat at the middle line though, suggesting greater indecisiveness all around. The bulls can take advantage of the lack of major upside action over the past few weeks to push higher. 

But the daily MACD gives buyers no joy and a breakdown in sentiment could threaten a 22% nosedive to the base line support around $16.

On the upside, a break above $24 would see bulls eye $30 and then possibly $39, with a major symmetrical triangle breakout likely to bring $75 into play over coming months.

[ad_2]

Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 65,377.00
ethereum
Ethereum (ETH) $ 1,836.48
tether
Tether (USDT) $ 0.999330
bnb
BNB (BNB) $ 595.80
usd-coin
USDC (USDC) $ 0.999615
xrp
XRP (XRP) $ 0.976713
solana
Solana (SOL) $ 73.63
tron
TRON (TRX) $ 0.309802
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.05
hyperliquid
Hyperliquid (HYPE) $ 67.47
zcash
Zcash (ZEC) $ 877.70
monero
Monero (XMR) $ 518.51
dogecoin
Dogecoin (DOGE) $ 0.060801
usds
USDS (USDS) $ 0.999799
leo-token
LEO Token (LEO) $ 9.24
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
whitebit
WhiteBIT Coin (WBT) $ 63.71
chainlink
Chainlink (LINK) $ 9.25
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
cardano
Cardano (ADA) $ 0.156794
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
stellar
Stellar (XLM) $ 0.139690
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
ethena-usde
Ethena USDe (USDE) $ 0.999374
dai
Dai (DAI) $ 0.999793
bitcoin-cash
Bitcoin Cash (BCH) $ 211.45
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
near
NEAR Protocol (NEAR) $ 3.21
litecoin
Litecoin (LTC) $ 46.27
quantixai
Quantix Finance (QFI) $ 999.15
susds
sUSDS (SUSDS) $ 1.08
avalanche-2
Avalanche (AVAX) $ 7.66
canton-network
Canton (CC) $ 0.081413
tether-gold
Tether Gold (XAUT) $ 3,850.19
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
uniswap
Uniswap (UNI) $ 5.13
usd1-wlfi
USD1 (USD1) $ 0.998030
blockchain-usd
Blockchain USD (USDB) $ 0.932324
sui
Sui (SUI) $ 0.741320
weth
WETH (WETH) $ 2,268.37
the-open-network
Gram (prev. Toncoin) (GRAM) $ 1.06
ripple-usd
Ripple USD (RLUSD) $ 1.00
global-dollar
Global Dollar (USDG) $ 0.999881
usdt0
USDT0 (USDT0) $ 0.998824
paypal-usd
PayPal USD (PYUSD) $ 0.999773
rain
Rain (RAIN) $ 0.003663
hedera-hashgraph
Hedera (HBAR) $ 0.058483
ondo-us-dollar-yield
Ondo US Dollar Yield (USDY) $ 1.15
shiba-inu
Shiba Inu (SHIB) $ 0.000004
Shares