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- 1 Ethereum Classic price prediction stays bullish for November till it sustains above $14.00.
- 2 ETC price is stuck in the narrow range of consolidation.
- 3 ETC crypto price struggles to climb above the 50-day EMA.
Ethereum Classic price prediction is bullish for the next month and suggests a rise. ETC price consolidates in the range between $14.00 to $18.00. It seems to have formed a strong base and upward range expansion may be visible at any time.
ETC crypto price is trading below the 200-day EMA showcasing a downtrend. However, buyers are trying to push the price above the 50-day EMA, if they succeed then a short-term bounce back is possible.
Previously, buyers tried multiple times to expand the range in an upward direction. However, they failed to hold the higher levels and prices faced rejection.
Ethereum Classic price is trading near its long-term demand zone so the downside risk is low. Buyers are active near to the $14.00 so it will be difficult for the sellers to pull the prices further down.
ETC price is trading at $14.95 with an intraday decline of 0.07%. The 24-hour volume to market cap is 4.13%. The pair of ETC/BTC is trading at 0.000523 with an intraday decline of -0.38%.
Ethereum Classic Price Formed a Strong Base?
Ethereum Classic price prediction suggests the probability of the upward range expansion is high. The prices had consolidated for a quite long time so either side breakout is possible in the coming months.
Till the ETC price holds a $14.00 level, buyers will remain active, and minor corrections will be easily absorbed. The buyers will gain confidence only after a breakout of the $18.00 hurdle.
On the other hand, if the price drops below the $14.00 level then the bear may try to pull it down to the yearly low.
ETC Price Formed an Inverted Hammer Candle
ETC price formed an inverted hammer candle on the weekly time frame. The short-term pullback rallies facing rejection indicate the presence of a bear in the supply zone.
The MACD curve sloping sideways indicating prices might consolidate for some more time in the existing range.
The supertrend says that till the price is trading below $16.32, the trend will remain downward. The RSI at 42 denotes weakness but if prices recover the RSI may reach 50.
Conclusion
Ethereum Classic price prediction is bullish for the next month and suggests a significant rise is possible.
ETC price formed a strong base so the downside risk is low. The technical analysis suggests if the ETC price breaks out of the $18 hurdle then it might begin the journey to reach $24.
Technical levels
- Resistance levels: $18.05 and $21.21
- Support levels: $14.00 and $13.00
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.