Ethereum Classic Coin Struggling To Hold 200-DMA Line.

By November 20, 2021Ethereum
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ethereum classic coin
  • Ethereum classic Coin over the monthly chart is trying to sustain above its vital support line of 200-day, despite a good recovery in the global markets.
  • The crypto asset is currently trading below its vital moving averages line of 20, 50, and 100-day while struggling to hold its DMA of 200-Day.
  • The pair of ETC/BTC is trading at 0.0008632 BTC with a 24-hour loss of -0.48%, and the ratio of ETC/ETH is CMP at 0.01179 ETH with an intraday loss of -1.79%.
Chart of ETC/USD by

Ethereum classic Coin falls below its short to medium-term moving averages of 20, 50, and 100-day lines, while bulls are trying to sustain above 200-DMA lines. The Coin is trading under the bearish momentum, while in recent days, it witnessed a selloff from the higher levels. Meanwhile, the Coin is still trading under the neutral zone as it has not given the closing above its vital MA lines of 200-days. Volume activity over the monthly chart is lower and needs to grow strongly in upcoming trading sessions.

With sustainable volume action, we can only see the next lap of bullish momentum if the token manages to regain above its 20, 50, 100, and 200-day lines. Support on the lower side is $47.10 and $43.70, whereas resistance on the higher side is $57.95 and $65.00.

Ethereum classic Coin is trading flat after a strong recovery from the lower levels

Chart of ETC/USD by

Ethereum classic Coin at the weekly chart is trading flat after a strong recovery from the lower levels. The digital asset is showing a neutral trend after a strong bullish rally from lower levels. Similarly, the technical parameters are turned neutral and suggest a neutral trend at the current time frame. ETC token is trading at $50.69 with an intraday gain of +3.78%, and the volume to market cap ratio is 0.105.

Relative Strength Index (NEUTRAL): Ethereum classic coin RSI is trading flat after gradually recovering from the oversold levels. The Coin is currently trading sideways in the neutral zone and CMP at 48.

Moving Average Convergence Divergence (BULLISH): The daily chart indicates a bullish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overpowers the seller’s line with a positive crossover.

Support levels: $47.10 and $43.70

Resistance levels: $57.95 and $65.00.

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