Ethereum Classic Analysis – Can ETC/USD Hold $20?

Hello Steemit Family,

Ethereum classic price made a short-term top near $23.00 and declined against the US dollar.

Ethereum Classic Price Support

There were around two attempts by ETC price to clear the $23.00 resistance against the US dollar. The ETC/USD pair could not move above the stated $23.00 hurdle and started a downside move. It declined below the 23.6% Fib retracement level of the last wave from the $18.11 low to $22.93 high. More importantly, there was a break below the $22.00 support and the 100 hourly simple moving average.

The decline was significant as there was a break below a major bullish trend line with support at $21.30 on the hourly chart of the ETC/USD pair. The match is currently exchanging great beneath the $21.50 bolster and the 100 hourly SMA. At the beginning, the cost is holding the half Fib retracement level of the last wave from the $18.11 low to $22.93 high at $20.50. Underneath the specified $20.50, the following significant help is around $20.00. And so forth cost must remain over the expressed $20.00 bolster on the off chance that it needs to remain in a bullish zone.

The chart indicates that the cost is losing energy, however $20.00 holds a considerable measure of hugeness. On the off chance that there is a break underneath $20.00, the cost could decrease assist towards $18.00. Then again, in the event that it recuperates, the broken help at $21.50 and 100 hourly SMA are probably going to forestall upsides.

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