Ethereum classic Coin Trading Sideways, CMP Near Vital DMAs

By November 17, 2021Ethereum
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  • Ethereum classic coin trading sideways, with the mixed note for bulls and bears and volume activity, is lower.
  • The crypto asset is currently trading below its vital moving averages of 20, 50, 100, and struggling near 200-day lines.
  • The pair of ETC/BTC is trading at 0.0008425 BTC with an intraday drop of -1.65%, and the ratio of ETC/ETH is CMP at 0.01204 ETH with a 24-hour change of +0.81%
Chart of ETC/USD by Tradingview

Ethereum classic coin at the monthly chart is trading sideways, since past few months with lower volume activity. The crypto asset is trying to move flat with a slight increment in volume activity in the current situation. Volume activity at the monthly chart is still average and needs to jump above its average volume line, which needs to improve strength for the next lap of a bullish move. We can expect a strong rally in upcoming trading sessions if the coin manages to sustain above its all vital DMA lines.

We can expect levels of $75 to $90 in forthcoming trading sessions if the coin manages to maintain above all significant support lines. Support on the lower side is $48.00 and $43.70, whereas resistance on the higher side is $58.10 and $65.50.

Ethereum classic coin at the weekly chart is trading near the oversold zone

Chart of ETC/USD by Tradingview

Ethereum classic coin at the weekly chart is trading near the oversold zone at the 4-hour time frame. Meanwhile, the technical parameters are reached under the oversold zone, and a slight bounce expected is expected. Volume activity is increasing at the 4-hour time frame and needs to sustain above the average volume line. ETC price is trading at $50.35 with an intraday dip of -5.56%, and the volume to market cap ratio is 0.1659

Relative Strength Index (OVERSOLD): Ethereum classic coin is CMP in the oversold zone the 4-hour time frame. In contrast, the coin suggests an upcoming bounce back in the short-term time frame, RSI at 32.

Moving Average Convergence Divergence (BEARISH): The daily chart projects a bearish trend at the 4-hour time frame. At the same time, the seller’s line (red) overpowering the buyer’s signal line (green) with no sign of reversal.

Support levels: $48.00 and $43.70

Resistance levels: $58.10 and $65.50.

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