Ethereum Classic (ETC) is in retreat after a failed attempt to clear an important barrier. The critical support comes at a 100-day SMA on approach to $6.40. Ethereum Classic (ETC) faced stiff resistance on approach to $7.40 and retreated below $7.00 amid sharp downside correction. The coin lost nearly 4% of its value in a matter of hours to trade at $6.84 by the time of writing. On a day-to-day basis, the coin is down 4.4% Ethereum Classic is now the 22nd-largest digital asset with the current market capitalization of $797 billion and an average daily trading volume of $1 billion. The coin is moving in sync with the market, within the short-term bearish trend amid expanding volatility. ETC/USD: Technical picture On the daily charts, ETC/USD dropped below critical support created by 200-day SMA on approach to psychological $7.00. This development has worsened the technical picture; however, the move still qualifies as a technical correction as long as the price stays above $6.40. This barrier is created by a combination of 100-day SMA and the middle line of the daily Bollinger Band. If it is broken. the sell-off may be extended to psychological $6.00. On the upside, the initial resistance is created by the above-mentioned critical barrier of $7.00 reinforced by 200-day SMA. Once it is out of the way, the upside is likely to gain traction with the next focus on the recent high on approach to $7.40 ETC/USD daily 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 Price Analysis: Corrective downside sees a probable test of 1.1500 FX Street 3 years Ethereum Classic (ETC) is in retreat after a failed attempt to clear an important barrier. The critical support comes at a 100-day SMA on approach to $6.40. Ethereum Classic (ETC) faced stiff resistance on approach to $7.40 and retreated below $7.00 amid sharp downside correction. The coin lost nearly 4% of its value in a matter of hours to trade at $6.84 by the time of writing. On a day-to-day basis, the coin is down 4.4% Ethereum Classic is now the 22nd-largest digital asset with the current market capitalization of $797 billion and an average daily trading volume of $1… 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.
