- 1 Ethereum classic price prediction showcases the fall of
ETCcrypto within an interesting pattern.
- 2 ETC crypto has slipped below 20, 50, 100, and 200-days daily moving averages.
- 3 Ethereum Classic cryptocurrency has declined around 3.50% year to date.
The Ethereum Classic price prediction indicates that ETC cryptocurrency has been facing challenges within a notable pattern, and it is now gearing up for a potential breakout. However, to escape the downtrend visible on the daily chart, ETC crypto requires the support of buyers. It is currently confined within a descending triangle pattern and is in the process of preparing for a breakout. In the meantime, it is essential for buyers to step in and help ETC cryptocurrency break free from this declining pattern on the daily chart.
Ethereum Classic price was $15.16 and experienced a marginal intraday decrease of 0.07% in its market capitalization. Interestingly, trading volume saw a 11.67% increase during the intraday trading session suggesting that buyers are actively working to drive ETC cryptocurrency toward the upper trendline within the descending triangle pattern.
Will Ethereum Classic Price Escape Now?
Source: ETC/USD by TradingView
Ethereum Classic price prediction shows the long term consolidation phase of ETC crypto inside a descending triangle pattern over the daily time frame chart. Meanwhile, ETC crypto is trading below 20, 50, 100 and 200-days daily moving averages.
Ethereum Classic price has experienced significant declines in shorter time frames. In the past week, it dropped by around 2.07%, and over the last month, it saw a more substantial decrease of about 13.32%. However, when examining the three-month period, ETC cryptocurrency managed to maintain a notable increase of approximately 0.66%. Expanding the timeframe to the past six months, the decline in its value becomes more pronounced, standing at approximately 25.43%. Year-to-date, Ethereum Classic cryptocurrency has declined by approximately 3.50%.
Technical indicators are pointing to a positive trend in ETC cryptocurrency. The relative strength index indicates that Ethereum Classic crypto is currently in a consolidation phase. Meanwhile, the moving average convergence divergence suggests an upward trend for ETC crypto.
RSI was at 38 and is trying to surge towards neutrality. The MACD line is above the signal line after a positive crossover. Investors in Ethereum Classic cryptocurrency need to wait until ETC crypto sustains at the negative sloping line.
The Ethereum Classic price prediction indicates that ETC cryptocurrency has been facing challenges within a notable pattern, and it is now gearing up for a potential breakout. Technical indicators are pointing to a positive trend in ETC cryptocurrency. Investors in Ethereum Classic cryptocurrency need to wait until ETC crypto sustains at the negative sloping line.
Support Levels: $14.85 and $14.45
Resistance Levels: $15.40 and $15.70
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.