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Key Points
- The classic price of Ethereum gained bullish momentum and broke the resistance from $ 12.50 and $ 13.40 against the US dollar.
- C & # 39; is an uptrend line in place with support for $ 13.10 on the hourly chart of the ETC / USD pair (data feed via Kraken).
- The pair could accelerate higher than the resistance levels of $ 14.20 and $ 15.00 in the short term.
The classic price of Ethereum is gaining traction compared to the US dollar and Bitcoin. ETC / USD may continue to rise towards the $ 15.00 level.
Ethereum Ethics Price Trend
After falling to the $ 10.50 level, the ETC price found a strong buying interest compared to the US dollar. The ETC / USD pair started a new upward move and broke the resistance by $ 12.50. It even rose above the $ 14.00 level and stabilized above the 100-hour simple moving average. A new weekly high was formed at $ 14.37 and later the price was corrected lower
It moved below the Fib retracement level 23.6% of the last wave from $ 11 , 88 lower at $ 14.37 at the top. However, losses were limited to $ 13.40. The area declared $ 13.20-40 was a previous resistance and is now acting as a support. In addition, it coincides with the Fib retracement level of 38.2% of the last wave from $ 11.88 low to $ 14.37 high. In addition, there is an uptrend line with support of $ 13.10 on the hourly chart of the ETC / USD pair. Therefore, if the price falls from current levels, it is likely that you find support near the levels of $ 13.40 and $ 13.10. The next support is close to $ 12.50 and SMA at 100 hours.
The graph suggests that the price of ETC is placed in a bullish zone above $ 12.50. It could continue to rise to its recent high at $ 14.37. Beyond this, the price could perhaps exceed $ 15.00.
MACD timetable – The MACD for ETC / USD is moving well in the bullish zone.
RSI timetable – RSI for ETC / USD is now well above level 50.
Major Support Level – $ 13.10
Major Resistance Level – $ 14.35
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