Ethereum Classic Price Technical Analysis – ETC/USD Settles Above $17.50 ByAayush JindalPRO INVESTOR Updated: 16 August 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Key Highlights Ethereum classic price corrected higher nicely and moved above the $17.50 level against the US dollar. There was a break above a major bearish trend line with resistance at $16.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently correcting lower from $19.80, but it remains supported above $17.00. Ethereum classic price is recovering against the US Dollar and Bitcoin. ETC/USD dips remain supported above the $17.00 and $17.50 support levels. Ethereum Classic Price Support After a major decline, ETC price found support near the $14.20 level against the US dollar. The price started an upward correction and traded above the $15.00 and $15.50 resistance levels. The correction was positive as the price even broke $16.00 resistance and settled above the 100 hourly simple moving average. During the upside, there was a break above a major bearish trend line with resistance at $16.50 on the hourly chart of the ETC/USD pair. The pair traded as high as $19.80 and failed to break the $20.00 resistance. At the moment, the pair is correcting lower and testing the 23.6% Fib retracement level of the last wave from the $14.21 low to $19.80 high. On the downside, there are many supports near the $17.00 level. An initial support is at $17.50 and the 38.2% Fib retracement level of the last wave from the $14.21 low to $19.80 high. The most important support is around $17.00 and the 100 hourly SMA. The mentioned $17.00 support is also the 50% Fib retracement level of the last wave from the $14.21 low to $19.80 high. Therefore, dips toward the $17.50 and $17.00 support levels remain supported. On the upside, the price has to surpass the $19.80 and $20.00 levels to trade further higher. Hourly MACD – The MACD for ETC/USD is slowly moving lower in the bullish zone. Hourly RSI – The RSI for ETC/USD is heading south towards the 50 level. Major Support Level – $17.00 Major Resistance Level – $19.80 Charts courtesy – Trading View The post Ethereum Classic Price Technical Analysis – ETC/USD Settles Above $17.50 appeared first on NewsBTC. Join Our Telegram channel to stay up to date on breaking news coverage