Ethereum Classic defies the general trend to post impressive gains. ETC/USD is pushing the throttle to the maximum; investors eye $10. In a Bitcoin bearish market, Ethereum Classic defies the general trend to post impressive gains. In fact, the crypto has been breaking one barrier after another from Monday this week. A glance at the hourly chart shows a new uptrend pushing the limits north. The recent correction above both the 50 Simple Moving Average and the 100 SMA fueled a surge in an engulfing candlestick. The price action struggled with the intense concentration of sellers at $6.4. A lower leg correction from the resistance dived under $6.0 but rebound occurred on touching the 50 SMA. Read also: Bitcoin will be worth a lot more in 5 years: Spewncer Bogart to Bloomberg At press time, ETC/USD is pushing the throttle to the maximum. The bounced above $6.4 resistance encouraged the bulls to increase positions. Trading at $6.53, ETC is backed by strong positive technical levels. The Moving Average Convergence bullish divergence is at its highest compared to the last two months. In addition, the Relative Strength Index (RSI) is making an entrance into the overbought. Potential for growth above $6.6 is quite high but a movement to $10 level will require Ethereum to establish higher support. A catalyst will definitely catapult the price above the hurdle. 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 EUR/USD technical analysis: Drops to the lower end of 1-week old trading range FX Street 4 years Ethereum Classic defies the general trend to post impressive gains. ETC/USD is pushing the throttle to the maximum; investors eye $10. In a Bitcoin bearish market, Ethereum Classic defies the general trend to post impressive gains. In fact, the crypto has been breaking one barrier after another from Monday this week. A glance at the hourly chart shows a new uptrend pushing the limits north. The recent correction above both the 50 Simple Moving Average and the 100 SMA fueled a surge in an engulfing candlestick. The price action struggled with the intense concentration of sellers at $6.4. A lower… 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.
