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- 1 Ethereum Classic price prediction suggests significant increase in the value is possible in coming months.
- 2 ETC price faced rejection from the 200 day EMA and struggles to defend the 50 day EMA.
- 3 Ethereum Classic price seems to be stuck into the narrow range.
Ethereum Classic price prediction suggests a rise in the long run and that the bulls seem to be active at the lower levels.
ETC price faced rejection from the 200 day EMA which means the positional trend downward facing. However, the short term trend is bullish and buyers are buyers trying their best to defend the 50 day EMA.
Ethereum Classic price recovered 23% from the recent swing low and showed signs of bullish trend reversal. However, the momentum halted near the $22.00 level witnessing minor profit booking.
Presently, ETC price is stuck in the narrow range between $17.00 to $22.00. If the buyers succeed in defending the lower range, a short term bounce is possible.
In mid June, ETC crypto witnessed sharp buying from the $14.00 support showing that strong buyers are active at the lower levels. Therefore, the possibility of the downside is low.
Ethereum Classic price is trading at $18.43 with an intraday decline of -0.22%. The 24 hour volume to market cap is 3.20%. The pair of ETC/BTC is trading at $0.000630 with an intraday decline of -0.16%.
Will Ethereum Classic Price Regain the $20.00 Mark?
Ethereum Classic price prediction favors the bulls and suggests rise in coming months. ETC prices performed well in June but due to the strong presence of sellers prices lacked the momentum near the supply zone.
As long as ETC crypto price sustains above $17.00, the possibility of the bounce back remains high. However, prices will gain momentum when buyers succeed to break out of the $20.00 hurdle.
On the other hand, if the price drops below $17.00, then bears may try to drag it down to the yearly lows. The technical analysis suggests ETC price is near a crucial support and the possibility of a bounce is high.
ETC Price Formed a Bullish Hammer Candle
ETC price formed a bullish hammer candle on the weekly time frame. It shows that the correction is over and the bulls are returning back on track. The crypto leader, BTC, is also recovering, which might positively impact ETC.
The MACD curve took support near the zero line and is reversing upward indicating mild bullishness. The RSI at 48 sloping sideways denotes neutral territory and a tight tug of war between the buyers and sellers.
Conclusion
Ethereum Classic price prediction suggests significant increase in the value is possible. ETC price is near a crucial support level. Therefore, the possibility of bouncing back is high. If buyers succeed in breaking out of the $20.00 level, then it will begin the journey to reach $25.00.
Technical levels
- Resistance levels: $21.00 and $24.00
- Support levels: $17.00 and $15.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.