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ETHEREUM Classic Price Analysis: MA-100 and MA-200 shows the buy action

ETC
  • ETC is an original ETH blockchain that is used to develop DAPPS.
  • The ETC has been a worthy investment in 2021 for those who believe in the code of law.
  • RSI for ETC shows the BUY action.
Tradingview

The token has formed the pattern of a bullish engulfing. ETC rose by 4.16% on Saturday. Following a 2.59% gain on Friday, ETC ended the day at 60.54. The last known price of this coin is 61.498. A mixed start for the day saw ETC fall to an early morning intraday low of $57.881 before making a move. Steering clear of the first support level at $60.95, ETC rallied to the Intraday high of $63.256. ETH has bounced back from $48.254(4 August 2021) to $61.80(to date)

It has the current trading volume(s) of 4,702,141,015, with a gain of 101.91% over the last 24 hours. ETC has addresses of 7,420 holders with the active transfer(s) of 55,929 in the last 24 hours. The circulating supply of token is 128,824,908 ETC coins and a max. supply of 210,700,000 ETC coins.The total supply of coins is also the same as Max. supply. 

SMA-20, SMA-50 and SMA-200

The chart above shows the movement of ETC where 200 DMA has been running below SMA-20 and SMA-50 is running below SMA-20. We see the token with respect to SMA’s, which are 20, 50, and 200. We see that all the three SMA’s are running parallel to each other, and this could be a possibility of moving to a higher price. We see an upwards pattern where the bullish win has been visible. The trend line marked shows this upwards shifting. 

Recently , SMA-200 has provided the support to a token which has converted the hike in returns to 32% at zone $48 to $62.

Its top 10 and 20 holders have more than 65% holdings, and top 50 and 100 have more than 70%, which makes the strong supply side of the coin.

An RSI oscillator is also present in the chart, which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 64.356 and marks the buy action. MA-5, MA-10, and MA-20 show the buy action. Even MA-100 and MA-200 show the same buy action.

The bull/bear power has the value of 1.9534 and shows the buy action. The high/low marks the buy action with the value of 0.6669.

The ETC-BTC pair is trailing at the level of 0.001384, and the gain of 8.80% was seen, whereas the ETC-ETH pair is at 0.01972, and the gain of 6.31% was seen in the last 24 hours. The volume/market cap of the token is 0.5903, and its market dominance is 0.41%.

Tradingview

The chart above shows the trailing coin above the FIB golden ratio. The recently formed candles on a 4 hours basis have touched the FIB 1 mark. This is certainly a point where more breakout for an intraday session can be possible. However, you can sell the token now and wait for a dip to come to long again.

Conclusion: The days range for the coin is 54-63 and presently is at 61.77. The 24 hours high and low of the coin is 63 and 54 respectively.

The ETC ATH is 176.16 and ATL is 0.4524. 

ETC ROI (approximate return on investment if purchased at the time of launch) is 6942.01%.

Technical Instruments:

Pivot: 61.51

R-1: 62.08

R-2: 62.43

S-1: 60.95

S-2: 60.60

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour