ETC Price Analysis – April 30
At the time of writing this, Ethereum Classic has recorded a downtrend of 3.92% after the coin touches $7.01 earlier today.
Resistance levels: $8.0, $9.0, $10.0
Support levels: $5.2, $4.2, $3.2
After touching the resistance level of $7.18 yesterday, Ethereum Classic has retested the $6.32 support today. ETC/USD has managed to stand to gain ground in the on-going bullish trend in the crypto market. More so, for more than one week, the price trend has seen the coin moving in an upward movement.
In other words, if ETC/USD breaks below the 9-day MA, traders may expect immediate support at $5.2, $4.2, and $3.2 levels. On the other hand, a bounce-back could regroup buyers for the key resistance levels around $8.0, $9.0, and $10.0. Considering the current market condition, the token is obeying the trend line at the moment as the RSI (14) moves below 65-level.
Against Bitcoin, after yesterday’s peak at 916 SAT, ETC price has been dropping and has crossed below the 9-day and 21-day moving averages as the coin continued the bearish run at the moment. The next level of support may surface at 700 SAT and then locate further key support at 650 SAT and 600 SAT levels if the sell-off later becomes huge.
However, on the upside, if the bulls can push the price back above the channel, Ethereum Classic could face the 800 SAT resistance. Above the mentioned level lies the major resistance at 850 SAT and above. The RSI (14) indicator moves tremendously below 45-level and if the indicator remains below this level, traders may expect more bearish pressure.
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