Ethereum Classic Momentum Fading After Breakout Rejection

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In Brief
  • ETC is facing resistance at $8.20 and $11.

  • Technical indicators in the long-term and daily time-frame are bullish.

  • The price could be near the top of a B wave.

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The Ethereum Classic (ETC) price has been unable to close a higher-high since breaking down on Aug 2. Another short-term move to the downside is expected before the price can resume its bullish trend. ETC Long-Term Resistance On Aug 2, the ETC price reached a high of $8.29 but dropped sharply to a low of $6.27 during the same day. The price found support above the 50 and 200-day moving

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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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