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Ethereum Classic [ETC] Price Spikes 4% In A Day, Possible Spike To $11.00 USD Or A Bull Trap?

  • Ethereum Classic (ETC) on the verge of breaching key resistance at $10.00 USD, as price spikes 4% in a day.

  • Higher timeframe charts MACD, RSI, Elliot Wave technical indicators signal a long term bearish view on the ETC/USD pair.

Ethereum Classic is arguably one of the top cryptocurrencies of 2020 following a successful Agatha hard fork, an appreciation to $13.00 USD on Jan. 17, and a break into the top 10 for the first time in over a year. Following the spike to yearly highs, the bears took control of the market setting the price back to sub-$10 USD levels, as major crypto exchanges price a token of ETC at $9.638 USD, as at time of writing.


ETC/USD on the verge of breaching key resistance at $11.00 USD


Since spiking to $13.00, the price reversed to $7.78 USD a week later and bounced off the rising wedge channel support, to start its journey to $10 USD. Only a few cents away, the mark looks set to be breached with near term indicators, bullish. Having touched an intraday trading high of $3.845 USD on Coinbase, ETC/USD has slowed its pace to current prices as bulls prepare for a possible bullish run in the near term. Read More...

Ethereum Classic

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