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Ethereum Classic $ETC Price Outlook: Bullish

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December 27 2018 00:31 UTC

 

Ethereum Classic has gained 16.96% or 0.78 USDT in twenty-four hours. In this Boxing Day Edition find $ETC price action, trend, technicals and more. Or jump right to the Ethereum Classic $ETC Price Outlook.

 

Price Action

The price of $ETC has risen over twenty-four hours. The last price at press time is 5.38 USDT. In Binance heavy volume trading the daily change is 16.96%, or 0.78 USDT:
$ETC Price Change
period % USDT
24 hours 16.96 0.78
7 days 25.12 1.08
1 month 22.83 1

News

Trend

trend is UP

The Ethereum Classic weekly trend is up. $ETC has been headed up since December 15 2018.

[Trend is "up" when the weekly price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

etc-usdt-binance-six-hour-candles-2018-12-26

 

Remarks

Ethereum Classic bucks the altcoin trend with double digit overnight gains. In the last hour we’ve seen profit taking and a strong red candle. This is likely to be temporary as $ETC looks like it will continue its rally.

Bloomberg reports the best trading day in nine years: “U.S. Stocks Surge in Best Rally Since March 2009: Markets Wrap”. Investors are bouyed coming back from their Christmas Day break.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the six hour chart is bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 5.08
25 day 4.80
99 day 4.64

The short term EMA(7) is above both the medium and long term EMA, and rising. This is a bullish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the one day chart is 58.6. This is a neutral state.

Lots of movement room – either way – on the one day chart.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 0.80%. This may exert a neutral influence on Ethereum Classic today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Ethereum Classic $ETC Price Outlook

bullish
  • the Ethereum Classic $ETC price outlook is bullish
  • if the price finds acceptance at higher levels the immediate resistance prints at $5.49
  • if the price finds acceptance at lower levels the immediate support prints at $4.58
Resistance levels: $5.49 $5.80 $7.50

Support levels: $4.58 $4.43 $3.26

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

 

Analysis Duration: six hours

This report is for a short term duration of six hours. Analysis is time sensitive.

[Analysis duration is the “best before date”, calculated from report generation at December 27 2018 00:31 UTC.]

 

Disclosure

The author holds Ethereum Classic $ETC at the time of writing.

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