Ethereum Classic Price Analysis – April 22
The Ethereum Classic is being attacked by the bears and the coin may continue to drop with its intraday movement.
Resistance levels: $45, $50, $55
Support levels: $25, $20, $15
For ETC/USD to continue to follow the bearish movement disappointed the traders as the market failed to focus on the upward movement. However, a slight improvement has been felt as the coins changed and turned green today, but the chances of getting a profitable intraday closure are much lower. Therefore, the coin may continue to visit the downside.
Ethereum Classic Price Analysis: ETC Price May Keep Falling
As for now, the Ethereum Classic price is changing hands at $35.130 where it is moving sideways. If the price of ETC rises and breaks above the 9-day and 21-day moving averages, the coin may begin a bullish movement. Meanwhile, the nearest resistance levels the coin might likely reach could be found at $45, $50, and $55 but crossing below the lower boundary of the channel may hit the support levels at $25, $20, and $15 respectively. This may continue to give a low trading volume as the technical indicator Relative Strength Index (14) remains below 50-level.
ETC/BTC Market: Sideways Movement May Continue
Against Bitcoin, the ETC price is moving below the 9-day and 21-day moving averages but with a bullish candle that is just coming up. The coin is trying to cross above the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) is seen moving to cross above the 50-level, but the market price is ranging. However, a possible drop may surface, and the support level can be found at 650 SAT and below.
In addition, if the Ethereum Classic price makes a positive movement towards the upper boundary of the channel, it could reach the resistance level of 1100 SAT and above, but the bulls may have to gather enough momentum to be able to push the price to the north. Nevertheless, the trading volume is yet to surface, but it may start rising once the technical indicator turns upward.