Ethereum Classic (ETC) Aiming to Break Above Long-Term Resistance

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In Brief
  • -ETC/USD is possibly trading inside a parallel, ascending channel.

  • -There is long-term support and resistance at $3.50 and $12, respectively.

  • -ETC/BTC has broken out from a 148-day descending resistance line.

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The Ethereum Classic (ETC) price is currently making its third attempt at breaking out above a minor resistance level. Long-term indicators are bullish, suggesting that the price will eventually be successful in breaking out. However, a short-term retracement is likely needed before any further upward movement can continue. Long-Term Support And Resistance The weekly chart for ETC

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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