Oct 9, 2018
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Ethereum Classic Price Analysis: ETC/USD’s Upsides Capped Near $11

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Key Highlights

  • Ethereum classic price is facing a major resistance near $11.00 against the US dollar.
  • There is a crucial bearish trend line formed with resistance at $10.95 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair must break the $11.00 resistance level to trade higher towards the $11.40 level.

Ethereum classic price is following a bearish path against the US Dollar and Bitcoin. ETC/USD may continue to move down as long as it is below $11.00.

Ethereum Classic Price Analysis

During the past few days, there was a slow and steady decline from $12.00 in ETC price against the US dollar. The ETC/USD pair also broke the $11.00 support and traded towards the $10.60 level. A low was $10.61 and later the price started an upside correction. There was a break above the $10.80 resistance and the 100 hourly simple moving average.

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