-Bitcoin news, price, information & analysis Ethereum Classic Price Key Highlights Ethereum Classic price is fighting to keep its head above the long-term floor as it recently fell below a short-term trend line. The 100 SMA recently crossed below the longer-term 200 SMA to signal a pickup in selling pressure.
This indicates that the path of least resistance is to the downside or that support is more likely to break than to hold. However, RSI is pulling up from the oversold area to signal a return in bullish pressure.
A bullish divergence is also evident as RSI made higher lows while Ethereum Classic price made lower lows. Stochastic is also climbing out of the oversold area so price might follow suit if buyers take over.
Ethereum Classic price could aim for the broken trend line, which might hold as near-term resistance and lines up with the dynamic inflection points at the moving averages. If these keep gains in check, price could fall back to the long-term floor or even break lower.
ETC/USD Chart from TradingView Ethereum Classic price drew a strong boost from news of its listing on Coinbase and Robinhood, but the overall sentiment in the cryptocurrency industry took over. Traders were disappointed by the SEC decision to delay their ruling on a number of bitcoin ETF applications to September, which means that the industry could be in limbo until then. Read more from newsbtc.com…
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