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Price Analysis of ETC: The bulls maintain a positive state

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The Classic Ether token- ETC ranks 22 among the major cryptocurrencies. The price of ETC at the press time was $4.99 with a market cap of $579 million. The 24-hour trading volume was $737 million. BigONE, FatBit, Dcoin, and BW.com contributed to a total of $120 million in trading volume, via the ETC / USDT trade pair.

1 Hour Chart

Source: ETC / USD TradingView

The one hour chart exhibited an uptrend extending from $4.721 to $4.891 and a downtrend from $5.272 to $5.101. The support was held at $4.485 while the resistance stood at $5.013.

Parabolic SAR: The dotted line seemed to be moving down meaning that the coin was facing a bearish sentiment.

Awesome Oscillator: The red bars with very little momentum had begun to rise indicating that the coin was facing a bearish sentiment.

Chaikin Money Flow: The line was touching the zero line indicating a neutral flow of the capital in the market. But since the line was coming from the top of the zero line, the coin was then under a bullish influence.

1 Day Chart

Source: ETC / USD TradingView

 

The one day chart exhibited an uptrend extending from $4.490 to $6.026 and a downtrend from $9.731 to $5.343. The resistance was at $6.548 while the support was at $5.494.

The Bollinger Bands had just begun to start diverging making the coins more volatile.

The MACD line was swaying over the signal line suggesting that the coin was facing a bullish sentiment.

Relative Strength Index: The line was over the 50-line indicating a higher buying pressure and placing the coin in the bullish market.

Conclusion

The CMF in the short term chart and all the indicators in the long term chart suggested that the coin continued to be in the bullish market.

 

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