- ETC/USD is currently 1.44% lower as crypto sentiment remains weak on Monday.
- The chart has thrown up a divergence which is sometimes bearish.
ETC/USD 4-Hour Chart
Ethereum Classic has been performing week over the past week but now it seems that the momentum is wearing thin.
Divergence is when the indicator makes a lower high but the price makes higher high waves. This is sometimes a good indication that the buying momentum is slowing down.
In this case, a break of 4.40 would confirm this and maybe the price will move to the moving average support zones.
The 55 EMA has been a good support and resistance tool in this pair over the pas as you can see on the left-hand side of the chart.
The RSI trendline in black could also break which could improve the quality of the bearish signal.
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