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Ethereum Classic Price Prediction: Is ETC Returning To Yearly Low?

 


The Ethereum Classic course is currently at Golden Ratio support at around USD 25. If ETC breaks out in a bearish fashion, ETC could drop to yearly lows.


ETC Price Prediction: Is Ethereum Classic Bouncing Off $25?

The last Ethereum Classic course forecast was more than two weeks ago. At the time we wrote: “The ETC price was rejected in a bearish manner at the golden ratio resistance around USD 40 the month before last. Also in the last month, the Ethereum Classic course could not overcome the Golden Ratio resistance, but was rejected again to continue the downward movement.


The ETC price reached the support at around USD 33, bounced off it briefly and then broke the support bearishly. This puts the Ethereum Classic price close to hitting the 50-month EMA at around $24.25.


Ethereum Classic could now bounce off the golden ratio support at the 200-week EMA at around USD 25. Should ETC break the bearish support, significant support awaits the ETC price between USD 11.3 and USD 14 at the latest.


Against BTC, ETC could now correct to golden ratio support around 0.0011 BTC to bounce off sharply.”

The ETC price returned to the golden ratio support at around USD 25, but was unable to bounce off it, instead falling briefly to around USD 20.6. In addition, a death cross was established in the daily chart, which confirms the trend bearishly in the short to medium term.


The RSI is thus in oversold regions and the histogram of the MACDs has been ticking bullishly higher for a few days. However, the MACD lines are still bearishly crossed.


In the short term, the ETC price appears to be heading back towards golden ratio support.


The Death Cross remains intact in the 4H chart as well

But the death cross remains intact on the 4H chart as well, confirming the trend bearishly in the short term. However, the MACD also gives bullish signals here, because the histogram ticks bullishly higher and the MACD lines are bullishly crossed.


Will the Ethereum Classic price bounce off the 200-week EMA?

Ethereum Classic price seems to find support at the 200-week EMA around $20.25. If ETC bounces off it, significant resistance is already waiting at around $31.12 at the 50-day EMA.


In addition, the histogram of the MACDs in the weekly chart is ticking bearishly lower and the MACD lines are also crossed bearishly.


Will the Ethereum Classic price return to the yearly low?

The Ethereum Classic course now finds support at around USD 20 and should this support break, significant support will wait for the ETC course again between around USD 10 and USD 13.5.


If the USD 20 mark were broken, the ETC price could very well fall back to the year's low of around USD 13. Also, the MACD lines on the monthly chart are bearish crossed over and the histogram is starting to tick bearishly lower this month after ticking bullishly higher for the past three months.


Against BTC, the ETC price is at significant Fib support

Against BTC, the histogram of the MACDs in the weekly chart continues to tick bearishly lower and the MACD lines have also crossed bearishly. Earlier, ETC was bearishly rejected at the golden ratio resistance around 0.0022 BTC.


With that, ETC is now around 0.0011 BTC to the golden ratio support at the 50-week EMA, which is where ETC could bounce. Otherwise, the next support is waiting for the ETC course at around 0.00065 BTC. On the upside, the golden ratio still acts as a significant resistance around 0.0022 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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