Ethereum Classic Price Analysis – July 24
Ethereum Classic trades above the upper boundary of the channel as the cryptocurrency market benefits from increased buying pressure.
Resistance levels: $65, $70, $75
Support levels: $35, $30, $25
ETC/USD is trading near $55, after hitting resistance at $51 during the first hour today. The coin may continue to rise if the price stays above the upper boundary of the channel. Meanwhile, Ethereum Classic could end this week on a better note, as the price could touch the $50 resistance level. Meanwhile, the current performance of the Ethereum Classic is gradual and may inspire move bullish movement.
Ethereum Classic Price Analysis: ETC Price Ready for the Upside?
However, the Ethereum Classic facing the upside as the coin remains within the bearish formation. However, the technical indicator Relative Strength Index (14) crosses above the 50-level, there is a higher probability that ETC may find resistance at $65, $70, and $75, but crossing below the 9-day moving average may locate the supports at $35, $30, and $25 respectively.
ETC/BTC Market: Remains at the Downside
Against Bitcoin, ETC continues following a downward trend as the coin witnesses a bullish price action today, indicating a reversal. However, the Ethereum Classic price is trading above the 9-day and 21-day moving averages. However, the 1500 SAT could provide an additional resistance level for the next buying pressure as the Relative Strength Index (14) keeps rising above 50-level.
After touching the resistance level of 1502 SAT, ETC/BTC price falls to 1437 SAT retreating below the upper boundary of the channel. Now, traders may continue to experience a downward trend if the bulls failed to hold the support of 1340 SAT. However, if this level can act as a solid line of defense against any further downtrend; the resistance levels of 1600 SAT and 1700 SAT may come to play.