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Ethereum Classic price prediction: ETC bearishly dismissed again

 


Three weeks have passed since the last Ethereum Classic course forecast. What is the current status of the ETC course?


Ethereum Classic price forecast: ETC price bounces off correction target

The last Ethereum Classic price prediction is already three weeks ago: “The Ethereum Classic price was rejected a second time at the golden ratio resistance at around USD 46 and then returned again to the correction target of the 0.382 Fib level at USD 32.8. This time, however, the ETC price established a bottom around $31.2, bouncing off the 50-day EMA.


If the ETC price now bounces off even more, it will find significant Fibonacci resistance at around USD 36.8 and USD 41.5. The correction phase is only over when the golden ratio breaks at around USD 41.5. Otherwise, the ETC price could fall even lower. "


The Ethereum Classic course was once again bearishly rejected at the Golden Ratio resistance

The Ethereum Classic course was rejected twice at the golden ratio resistance around USD 46 and then returned to the 0.382 Fib support at around USD 33, which ETC was able to bounce off. However, the ETC price subsequently fell below the 0.382 Fib support and approached the 200-day EMA at around USD 30.7.


The ETC price then rose to the USD 40 mark, at which point the ETC price encountered strong bearish rejection on the golden ratio. The ETC price then returned again to the 0.382 Fib support at around USD 33, bounced off it and rose again to the golden ratio at around USD 40.


Once there, the ETC price appears to be getting another bearish rejection today, which could allow ETC to revisit support around $33. Today, while the RSI is showing neutral and the MACD lines are bullish crossovers, the histogram starts ticking bearish lower.


Without a break in the golden ratio at around USD 40, the ETC price may correct in the short term.


A golden crossover was established in the 4H chart

A golden crossover was established in the 4H chart, which confirms the short-term bullish trend. However, the histogram of the MACDs is ticking bearishly lower and the MACD lines are also crossed bearishly.


It looks like a corrective move in the near term.


In the weekly chart, there are still some resistances waiting for the ETC course

On the weekly chart, the histogram starts ticking bullishly higher this week after ticking bearishly lower for the past three weeks. In addition, the MACD lines are bullish crossed and the RSI is neutral.


If the Ethereum Classic price breaks the golden ratio at around USD 40, the next golden ratio resistance is waiting at around USD 46. Subsequently, Ethereum Classic is facing horizontal resistance between around USD 48 and USD 53 and between around USD 65 and USD 77.


In the monthly chart, the MACD histogram continues to tick higher

Despite the near-term bearish outlook, the ETC price has been bullish so far in September. The MACD histogram is ticking bullishly higher for the third month in a row and ETC seems to be bouncing off the Fib support at around USD 33 this month.


The key here is whether ETC can break the Fib resistance at around USD 40 and USD 46 respectively. In addition, some resistance is still waiting for the ETC course before Ethereum Classic can initiate a bullish trend reversal.


The Ethereum Classic course is facing strong resistance against BTC

Against BTC, the ETC price could break out of the symmetrical triangle if the ETC price bullishly breaks the golden ratio at around 0.0022 BTC. There, however, the ETC course seems to have been rejected in a bearish manner so far.


What is bullish, however, is that the histogram of the MACD has been ticking bullishly higher for several months. In addition, the MACD lines are bullish crossed and the RSI is neutral.


On the downside, ETC finds significant Fib supports around 0.00155 BTC and around 0.00115 BTC.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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