Ethereum Classic is a bullish phase following recovery from support at $5.00. The resistance at $5.4 is delaying the much awaited break above $5.50; a sideways action is expected above $5.30. Ethereum Classis is in the green on Wednesday in the course of the European session. The price has advanced upwards by 1.3% to trade at $5.323. An intraday high has been reached at $5.374, leaving the resistance at $5.4 untested. The entire cryptocurrency market is slightly in the green but just like ETC/USD lack a catalyst to sustain formidable gains. ETC/USD is trading above the moving averages on the 1-hour chart. The 50 SMA and the 100 SMA have been turned into key support areas that will come in handy if a reversal were to occur aiming for $5.00. At the same time, Ethereum Classic is trading within an ascending channel whose support continues to be vital to the ongoing recovery. As far technical levels and indicators are concerned, Ethereum Classic is likely to settle for a sideways price action in the coming sessions. For instance, the RSI is horizontal at 58.33 after the upside momentum stalled under 70. The MACD is in the positive territory and features a minor bullish divergence as a sign the buyers are in the driver seat. Therefore, support above $5.30 could stay in place as ETC/USD gets ready for another assault at $5.4 and $5.5 hurdles. ETC/USD 1-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 Crypto News share Read Next Ethereum Price Analysis: ETH/USD posted gains in Q1 despite the biggest one-day sell-off on record FX Street 2 years Ethereum Classic is a bullish phase following recovery from support at $5.00. The resistance at $5.4 is delaying the much awaited break above $5.50; a sideways action is expected above $5.30. Ethereum Classis is in the green on Wednesday in the course of the European session. The price has advanced upwards by 1.3% to trade at $5.323. An intraday high has been reached at $5.374, leaving the resistance at $5.4 untested. The entire cryptocurrency market is slightly in the green but just like ETC/USD lack a catalyst to sustain formidable gains. ETC/USD is trading above the moving averages on the… 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.
