ETC Price Analysis – January 17
The Ethereum Classic (ETC) refused to be stopped as the bulls aim at the resistance level of $10.
Resistance levels: $11.0, $11.5, $12.0
Support levels: $9.0, $6.5, $6.0
ETC/USD is currently making an attempt to trade above the $9.0 as it hovers around at the time of writing. The Ethereum Classic (ETC) may continue to move upwards if the price crosses above the 9-day moving average. Meanwhile, ETC/USD may start the week on a better note as the price could touch the resistance level of $10 resistance level.
What to Expect from Ethereum Classic (ETC)
ETC/USD may continue to follow the sideways movement as the market price stays below the moving averages. In other words, as the technical indicator RSI (14) moves in the same direction below the 60-level, once it faces down, there is a high tendency that the coin may likely find supports at $7.0, $6.5, and $6.0 but the upside may remain above the moving averages at $11.0, $11.5, and $12.0 respectively.
ETC/BTC Market: Remains at the Downside
Against Bitcoin, Ethereum Classic is displaying a declining market over the past weeks as the price action continues to follow the downtrend. At the moment, the Ethereum Classis appears non-volatile as the price moves below the 9-day moving average, signaling a possible surge in the market soon. At the moment, the ETC trading is likely to go down to the 150 SAT, 100 SAT, and 050 SAT supports if the bulls failed to hold the current support.
However, a bullish regroup may take a decisive move with a potential break above the upper boundary of the channel. Therefore, if such a scenario occurs, the price may likely go as high as 350 SAT, 400 SAT, and 450. On the long-term outlook, ETC remains in a bearish control as a rebound is possible if the 250 SAT can act strong. Meanwhile, the RSI (14) is moving around 51-level, crossing below this level could show a selling pressure in the market.