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Long-Term Outlook
A look at the Weekly chart for Ethereum Classic (ETC) shows that price has fallen to $ 4, slightly above the next support area at $ 3.5-4.
Price is currently trading under the moving stock, which have formed numerous bearish crosses. Furthermore, the MACD has failed to form a bullish cross twice (yellow arrows).
Finally, while the RSI is <30 for the first time in a long while, there is no bullish divergence developing yet.
Medium-Term Outlook
A look at the 3-Day chart for ETC gives a more optimistic scenario.
There is a small amount of bullish divergence developing in the RSI, and the MACD has almost made a bullish cross.
However, the price is trading well below.
Divergence developing in the RSI The Daily chart gives a similar outlook.
Furthermore, the MACD has formed a bullish cross and is approaching 0 with strong volume.
Short-Term Outlook
Finally, the 6-hour chart moves into the short-term possible movements.
Price has moved past the 7-21 period moving and the cloud. Now price is facing resistance in the $ 5-5.5 area.
Finally, the RSI barely crossed into oversold territory (> 70) but has not made any bearish divergence yet.
Conclusions
- Price has broken the long-term support at $ 10.
- The next area of support is $ 3-4.
- Long-term indicators are bullish while short-term indicators are bullish.
| DISCLAIMER: Investing or trading in digital assets, such as those here, is extremely speculative and carries substantial risk. This analysis should not be considered as investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt. This analysis should not be interpreted as an endorsement or recommendation of a particular asset. |
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