Technical Analysis of Ethereum Classic (ETC) Shows a Bearish Trend

• The price of ETC has decreased by 5.04% in the past 24 hours.
• The bullish price prediction for ETC ranges between $26.25 and $30.72.
• The bearish price prediction for ETC ranges between $22.55 and $18.27.

Ethereum Classic (ETC) has a good future ahead of it. At the time of writing, ETC is trading at $24.80 with a 24-hour price decreased by 5.04%. It has gained 51.3% in the past 30 days. The 24-hour trading volume of ETC is 897,763,021.

Technical Analysis of ETC from 1-Day Chart

1Day Chart of ETC/USDT Showing RSI and MACD Indicators

From the chart above, we can see that the relative strength index value of ETC is falling from the 70-mark overbought region. It is presently at 66.09 which indicates a strong bearish trend since its price is decreasing in the past 24 hours. The MACD shows that the buyers are having their way since the green line is above the red line.

Technical Analysis of ETC from 4-Hour Chart

4-Hour Chart of ETC/USDT Showing RSI and MACD Indicators

From the chart above, we can see that the relative strength index value of ETC is falling from the 70-mark overbought region. It is presently at 50.13 which indicates a strong bearish trend since its price is decreasing in the past 24 hours. The MACD shows that the sellers are in charge since the green line is below the red line.

Conclusion

A bullish breakout above the present psychological resistances will see Ethereum Classic (ETC) trade between $26.25 and $30.72.

On the other hand, if the crypto moves along with the present market, the price of ETC will plummet between $22.55 and $18.27 support levels soon.

Resistance Levels: $26.25 and $30.72

Support Levels: $22.55 and $18.27.