ETC Price Analysis – January 28
Ethereum Classic (ETC) increases by 8.02% as the bulls pushed the coin to the north. Meanwhile, the price escalation increases hope among the intraday traders.
Resistance levels: $13.0, $13.5, $14.0
Support levels: $9.0, $8.5, $8.0
ETC/USD has repeatedly proven its potential in the market. The coin was seen following Ethereum (ETH). Today, Ethereum is facing an upward trend, at the same time, Ethereum Classic is taking a leap forward. A few days ago, we saw the coin moving in sideways. The market pressure was huge and traders also lost hope. Well, the currency has fought against the pressure and started to position itself in the best range today.
In the last few days, ETC/USD has recorded the highest value moving from $8.30 to $11.25 at the time of writing. The on-going trend may move a little bit higher this week, and the coin may likely touch the nearest resistance at $12 before the end of the week, but if the bulls put more effort, it could hit additional resistance levels at $13.0, $13.5 and $14.0 respectively.
Moreover, should in case the bulls failed, the token’s price will begin to resume low and the support levels to watch out for are $9.0, $8.5 and $8.0. But the stochastic RSI is moving out of the oversold territory, suggesting more bullish signals.
Comparing with Bitcoin, Ethereum Classic has followed a heavy rise over the past few days and the bulls appear to be dominating the market at the moment. The next resistance level may surface at 1350 SAT and then locate further resistance at 1450 SAT and 1550 SAT levels if the buy-run later becomes huge.
However, the Ethereum Cash (ETC) trading is likely to make a quick turn to the support levels of 950 SAT, 850 SAT, and 750 SAT if the bulls couldn’t go further. According to the RSI (14), the market is extremely within the overbought level and when coming down, it could trigger some bearish signals on the market soon.
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