ETC Price Analysis – June 28
ETC/USD may not be stopped as the bull’s aim at the resistance level of $6.0.
Resistance levels: $6.2, $6.4, $6.6
Support levels: $5.2, $5.0, $4.8
ETC/USD price is now trading close to $6.0 as it hovers around $5.7 resistance level at the time of writing. The Ethereum Classic (ETC) may continue to move upwards if the price crosses above the 9-day and 21-day moving average. Meanwhile, Ethereum Classic may touch the resistance level of $6.2 if the bulls focus on the upward trend.
In other words, as the technical indicator RSI (14) moves leaves the oversold region, in as much as the signal line moves toward the 40-level, there is a higher chance that the coin may likely find resistance levels at $6.2, $6.4, and $6.6 but the downside remain capped at $5.2, $5.0, and $4.8 respectively.
Against Bitcoin, ETC price has been following the downtrend over the past few days and today, the coin has continued the bearish run at the moment. The next level of support may surface at 600 SAT and then locate further key support at 580 SAT and 560 SAT levels if the sell-off later becomes huge.
Meanwhile, on the upside, Ethereum Classic faces the 650 SAT resistance. Above the resistance lies the major 680 SAT level and above. The cryptocurrency has encountered strong support at 31-level of the RSI (14) indicator before making a quick return to the north. Perhaps, if the signal travels below this level, we can expect bearish pressure below the channel.