Ethereum Classic Price Analysis – March 23
The Ethereum Classic price prediction shows that ETC is currently making another attempt at cross above the $50 resistance level.
Resistance levels: $55, $57, $59
Support levels: $38, $36, $34
ETC/USD bulls couldn’t break above the resistance level of $50 level as the coin drops to touch the daily low of $43.23. However, the Ethereum Classic price is now retreating below the upper boundary of the channel and has already crossed above the barrier. Moreover, the technical indicator Relative Strength Index (14) indicates increasing bullish momentum as the signal line moves within the overbought region, indicating that the market sentiment is presently bullish.
Ethereum Classic Price Analysis: What Could Be the Next Direction for ETC?
Ethereum Classic price is changing hands at $44.36 where it faces down. More so, if ETC/USD rises again and breaks the $50 resistance level, the coin may continue its upward movement to test the high of $53. Therefore, the nearest resistance levels are located at $55, $57, and $59 while falling towards the 9-day and 21-day moving averages may reach the support levels at $38, $36, and $34 respectively.
ETC/BTC Market: Price Follows An Uptrend Movement
When compared with Bitcoin, the Ethereum Classic price has been moving in the direction above the 9-day and 21-day moving averages as the bulls continue to keep the coin on the positive side. On the downside, if the market price crosses below the moving averages, the next support level may surface at 950 SAT and then locate further key support at 900 SAT and below if the sell-off later becomes huge.
However, on the upside, if the bulls push the price back above the upper boundary of the channel; Ethereum Classic could face the 1200 SAT. Any other resistance level lies at 1300 SAT and above while the signal line of the Relative Strength Index (14) moves within the overbought zone to continue the bullish movement. On the other hand, if it moves out of this barrier, it may bring more bearish pressure into the market.