Here we are analyzing ETC/USD on the 4H chart.
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In today’s trading, the Ethereum Classic price stood at $36.39, as of 16:33 GMT. The digital currency has gained nearly 4% in the past 24 hours. Its market cap currently stands at $3.68 billion, which makes it the 14th-largest cryptocurrency on the market.
When analyzing the chart again, I discovered a nice side-wards support line which today is at the value of $34.39. I suspect that ETC/USD will likely retest this side-wards support level before an up move.
Price will now likely test the side-wards support at $34.39, but this isn't a deal breaker either way. Coupled with the fact that a retest would again coincide with the moving averages, this could provide a compelling support where once again the big money would be looking to speculate and accumulate.
Dont forget to follow if you want to be informed ;)
In today’s trading, the Ethereum Classic price stood at $36.39, as of 16:33 GMT. The digital currency has gained nearly 4% in the past 24 hours. Its market cap currently stands at $3.68 billion, which makes it the 14th-largest cryptocurrency on the market.
When analyzing the chart again, I discovered a nice side-wards support line which today is at the value of $34.39. I suspect that ETC/USD will likely retest this side-wards support level before an up move.
Price will now likely test the side-wards support at $34.39, but this isn't a deal breaker either way. Coupled with the fact that a retest would again coincide with the moving averages, this could provide a compelling support where once again the big money would be looking to speculate and accumulate.