Ethereum Classic Price Analysis – February 11
The Ethereum Classic moves to cross above the upper boundary of the channel as the cryptocurrency market benefits from increased buying pressure.
ETC/USD Market
Key Levels:
Resistance levels: $45, $47, $49
Support levels: $28, $26, $24
ETC/USD is trading near the upper boundary of the channel, after hitting resistance at $37 during the European session today. The coin may continue to rise if the price crosses above the upper boundary of the channel. Meanwhile, Ethereum Classic could end this week on a better note, as the price could touch the $40 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
At the time of writing, the Ethereum Classic faces the upside as the coin moves to cross into the positive side. However, the technical indicator Relative Strength Index (14) crosses into the overbought region, there is a higher probability that ETC may find resistance at $45, $47, and $49, but crossing below the 9-day moving average may locate the supports at $28, $26, and $24 respectively.
ETC/BTC Market: Price Moves to the Upside
Against Bitcoin, ETC continues to follow the upward trend as the coin witnesses a bullish price action today, indicating a reversal. However, the Ethereum Classic price is trading well above the 9-day and 21-day moving averages. However, the 900 SAT could provide an additional resistance level for the next buying pressure as the Relative Strength Index (14) moves into the overbought region.
After touching the resistance level of 864 SAT, ETC/BTC price falls to 850 SAT retreating below the upper boundary of the channel. Now, traders may retreat and could touch the nearest support level of 700 SAT and below. However, if the current level can act as a solid line of defense against any further downtrend; the resistance level of 950 SAT and above may come into play.
