Ethereum Classic (ETC) Price Structure On Daily And Weekly Overv
Over the weekly chart, most of the price structure was in a major range of $12-$46. Except in 2021, where the price structure peaked out of this range, and an ATH was registered at $175. Overall, 70% of the price formation was below this range, and 30% was out of the range.
As per trading view, (ETC/USD-COINBASE), the price as of writing, has traded nearly 85% down. Based on the recent surrounding spot Ether ETFs to trade soon. The Ethereum branded assets, like ETC, could skyrocket. Thus, the probability appears higher that it could breakout of the range.
over the daily chart, the price has resonated with BTC's bullish effect on the broader market. After the deterioration ended, the ETC formed sustenance on the same day as BTC, that's on July 5th. In the last 18 days, the price has shown more than 30% growth.
The price of ETC has breached the 50-day EMA band and has been approaching the 200-day EMA. Meanwhile, the MACD has formed a bullish cross with a histogram at 0.39, and RSI flashed at 58.33.
Therefore, the resistance on daily TF is $28.52 and $34.28. However, failure to ascend, will give the seat to bears, and they could eye for $$21.90, and $18.45 support levels.