Ethereum Classic (ETC) Is Taking Dips But A Strong Support Is Saving The Price Action 

The price of Ethereum Classic (ETC) moved higher this week trading above $14.00. A significant bullish trend line with support at $13.55 was formed. The price tested the crucial support. ETC wasn’t just climbing against the USD but it was climbing against Bitcoin as well. The price dips are firmly supported at $13.55. Over the last few trading sessions, the price of Ethereum Classic has risen from as low as $12.40 to higher levels against the USD. The price broke the resistances at $13.00 and $13.80. It even broke above $14.00 trading as high as $14.53 before finally correcting downside below $14.

Ethereum Classic (ETC) Against The USD

According to the price analysis of Aayush Jindal on Newsbtc, ETC broke below the 50% Fibonacci retracement level of the last rise from $13.01 to $14.53. The fall in price was protected by the support at $13.50. This same level acted as support before now.

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Ethereum (ETH)
$87.47
-5.02%

The 61.8% Fibonacci retracement level of the last rise from $13.01 to $14.53 acted as support against the decline. Also, a crucial bullish trend line that had support at $13.55 was formed on the hourly chart. The pair started consolidating losses above the support at $13.50. An upside move is most likely going to resume as long as the price stays above the support at $13.50.

Ethereum Classic (ETC) Price Now

The price of Ethereum Classic is currently trading at $13.95. This indicates a 0.59% fall against the USD and a 1.53% against Bitcoin. The relative strength index is below 50 and the MACD on the hourly chart is in the bearish territory. The significant resistance is at $14.20 while the significant support is at $13.50. The next few trading sessions will determine if the price action will change. Hopefully, the support at $13.55 will be strong enough to prevent the decline. This is because a fall below this support will lead to more declines below $13.00 short-term.

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