Key Key Aspects
- This week the classic price of Ethereum rose higher and exceeded $ 14.00 compared to the US dollar.
- C & # 39; is an uptrend line formed with support for $ 13.55 on the hourly chart of the ETC / USD pair (Data feed via Kraken).
- The pair is currently testing a larger support area close to $ 15.50 and may recover.
The classic price of Ethereum rose higher recently against the US dollar and Bitcoin. ETC / USD is currently running lower, but dives remain supported above $ 13.50.
Ethereum Classic Price Support
During the last few sessions, there was a sharp rise in the ETC price from $ 12.40 lower than the US dollar. The ETC / USD pair increased and broke resistance levels of $ 13.00 and $ 13.8. There was also a break above the $ 14.00 level and the price traded up to $ 14.53. Subsequently, the price started a downward correction and traded below the $ 14.00 level.
There was also a break below the 50% fiber retracement level of the last stretch from the minimum of $ 13.01 to $ 14.53 maximum. However, the declines were well protected near the $ 13.50 level, which previously also served as a support. In addition, the 61.8% Fibra retracement level of the last stage from the minimum of $ 13.01 to $ 14.53 has halted the decline. More importantly, there is a crucial uptrend line formed with support for $ 13.55 on the hourly chart of the ETC / USD pair. The pair is consolidating above the support of $ 13.50. As long as the price is above the trend line and the support of $ 13.50, the upward movement may resume.
The chart suggests that the ETC price is positioned well in an uptrend from a minimum of $ 12.40. If the $ 13.50 support is valid, it may rebound above the $ 14.00 short-term level. Otherwise, there is a risk of a prolonged correction towards the $ 13.20 level.
MACD timetable – The MACD for ETC / USD is currently in the bearish zone.
RSI timetable – The RSI for ETC / USD is currently lower than level 50.
Main support level – $ 13.50
Main resistance level – $ 14.20