Ethereum Classic remains bullish despite retreat from the weekly high at $5.24. The bullish flag pattern is likely to give ETC a boost above the weekly high with the focus shifting to regions above $6.0. Ethereum Classic just like EOS and Bitcoin Cash is pushing its luck with the hope of breaking the downtrend witnessed since Thursday. ETC/USD recently made a remarkable move from a consolidation range between $4.5 and $4.8. The surge to levels above $5.2 took place following a key correction move above the Simple Moving Averages (SMAs). The diminishing buying pressure above $5.2 led to the formation of a weekly high of $5.24. The correction in the last 24 hours has been bearish within a flag pattern. Ethereum Classic, however, appears to have found support at $4.8 and is struggling to correct towards $5.0. The immediate upside is limited by the 50 SMA on the hourly chart. A minor push above $4.9 could end up in a break out above the bullish flag pattern. This will change the focus of the buyers from $5.0 to levels above the weekly high. Glancing lower, $4.8 continues to be a critical support zone. The 100 SMA currently at $4.77 is in line to offer support in the event declines continue. The Moving Average Convergence Divergence (MACD) dive into the negative zone shows that selling pressure is still present. Traders can expect a period of consolidation before an actual breakout comes into the picture. ETH/USD one-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next Asian stocks rise, Shanghai Composite attempts breakout on trade optimism FX Street 4 years Ethereum Classic remains bullish despite retreat from the weekly high at $5.24. The bullish flag pattern is likely to give ETC a boost above the weekly high with the focus shifting to regions above $6.0. Ethereum Classic just like EOS and Bitcoin Cash is pushing its luck with the hope of breaking the downtrend witnessed since Thursday. ETC/USD recently made a remarkable move from a consolidation range between $4.5 and $4.8. The surge to levels above $5.2 took place following a key correction move above the Simple Moving Averages (SMAs). The diminishing buying pressure above $5.2 led to the formation… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
