Ethereum Classic News, News

Ethereum Classic Token Rejected $55 USD Price Support – Analysis.

The Ethereum Classic [ETC] token failed to regain its 50-day moving average of 100-day lines with 100 officials on the monthly chart, despite a strong recovery from low levels.

The crypto asset is currently trading above its key 200-day moving line, while it has been rejected by its 50 and 100-day moving lines and is attempting to hold its 20-day SMA.

The ETC / BTC pair trades at 0.001084 BTC with a 24-hour loss of -3.48%, while the ETC / ETH rating is CMP at 0.01553 ETH with an intraday loss of -1.57%.

Ethereum Classic Token Rejected $55 USD Price Support - Analysis.

The old Ethereum token was rejected from its mid-range 50-day and 100-day lines, and the bulls were unable to push it higher.

The currency was trading on a bearish note, and it has recently seen good buying interest rates from low levels.

Because it has not closed above its key 50 and 100-day MA lines, the coin is still trading in a neutral position.

The monthly chart’s volume function is restricted, and it must continue to rise consistently in futures trading hours.

Only if the token supports more than 20, 50, 100, and 200-day lines with continuous volume action can we expect the next wave of bullish momentum.

Support is found at $48.80 and $44.00 on the lower side, while resistance is found at $56.10 and $61.40 on the upper side.

On the weekly chart, the old Ethereum token is trading on a small bearish note after experiencing some minor sell-off pressure at higher levels.

After a powerful bullish meeting from low levels, digital assets are showing symptoms of weakness. Similarly, technological restrictions have received negative responses, implying that simple changes may be doable.

The Ethereum Classic coin is currently trading at $54.69, up o.78 percent on the day, with a market average volume of 0.1556.

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