Ethereum Classic Price Analysis – September 3
Ethereum Classic follows the bullish movement as the coin market benefits from increased buying pressure.
ETC/USD Market
Key Levels:
Resistance levels: $80, $85, $90
Support levels: $60, $55, $50
ETC/USD is trading near $70, after hitting resistance at $66 during the European session today. The coin may continue to rise if the price stays above the 9-day and 21-day moving averages. Meanwhile, Ethereum Classic could end this week on a better note, as the price could touch the $75 resistance level. However, the current performance of the Ethereum Classic is gradual and may inspire move bullish movement.
Ethereum Classic Price Analysis: ETC Price Keeps Moving Up
At the time of writing, the Ethereum Classic is facing the upside as the coin moves within the bullish formation. However, the technical indicator Relative Strength Index (14) crosses above the 60-level, there is a higher probability that ETC may find resistance at $80, $85, and $90, but crossing below the 9-day and 21-day moving averages may locate the supports at $60, $55, and $50 respectively.
ETC/BTC Market: Remains at the Downside
Against Bitcoin, ETC continues to follow a downward trend as the coin witnesses a bullish movement today. However, the Ethereum Classic price is trading above the 9-day and 21-day moving averages at 1394 SAT which could provide an additional resistance level for the next buying pressure as technical indicator Relative Strength Index (14) remains above 50-level.
After touching the resistance level of 1413 SAT, ETC/BTC price retreats to where it is currently trading. Therefore, traders may likely experience a downward trend if the bulls failed to hold the support of 1362 SAT. However, if this level can act as a solid line of defense against any further downtrend; the resistance level of 1500 SAT and above may come to play.
