Ethereum

Resistance

Ethereum Classic

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>ETC price is hovering around the 200-day EMA, and looking for a pullback.</a></li>
 <li><span>2</span> <a>The ETC crypto has settled the gains, establishing base at $25.</a></li>
</ul>
<p>The ETC price broke and slipped to the 200-day EMA mark support zone. A head and shoulders pattern was spotted on the daily chart, and the token breached the trendline support mark of $30, highlighting bearishness in the last few sessions. Moreover, the sellers have remained active and are trying to breach the immediate demand zone of $25 to extend the down move. However, the technicals are suggesting a rebound, and buyers are starting to accumulate the token.</p>
<p>At press time, the Ethereum Classic token (ETC) price was $26.30 with an intraday gain of 0.40%, reflecting neutrality on the charts. It has a monthly return ratio of -14.27% and 35.30% yearly. The pair of ETC/BTC is at 0.000412 BTC, and the market cap is $3.87 Billion. Analysts are neutral and suggest that the ETC token may retain strength and will retest the 20-day EMA mark shortly.</p>
<h2 class="wp-block-heading" id="strong-etc-price-volume-profile-on-daily-chart-strong"><strong>ETC Price Volume Profile On Daily Chart</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (ETC), Volume (ETC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum-classic&amp;pt=ETC&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_3UF1IuKAQ_R3&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D" scrolling="no"></iframe>
<p>The chart displays the <a href="https://www.thecoinrepublic.com/2024/04/19/wow-crypto-price-forecast-is-wow-token-price-ready-to-take-reversal/" target="_blank" rel="noopener noreferrer nofollow">price</a>-to-volume profile of the ETC token and replicates that the token has made a base of around $25 and is attempting a rebound. Moreover, the price action replicates the bulls’ accumulation, and the technicals suggest that the token will soon retest the 20-day EMA mark. The intraday trading volume dropped over 21.87% to $329.90 Million.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (ETC), Weighted sentiment (Total) (ETC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum-classic&amp;pt=ETC&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_3UF1IuKAQ_R3&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Following the range-bound price move, the token displays minimal fluctuations in the price volatility curve throughout the week. The price volatility curve noted a decline of over 1.90% to 0.015. However, the weighted sentiment looks neutral and stayed near the midline around -0.102.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-x-followers-overview-strong"><strong>Social Dominance and “X” Followers Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (ETC), Twitter Followers 7d (ETC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum-classic&amp;pt=ETC&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_3UF1IuKAQ_R3&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Btwitter_followers_7d&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The data reflects that the social dominance value noted a notable spike from 12.90% to 1.852%, noting an increase in the media discussion reports. Conversely, the X followers’ data dropped over 15.20% to 70.</p>
<h4 class="wp-block-heading"><strong>Development Activity and Total Open Interest Insights</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (ETC), Total Open Interest in USD (ETC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=ethereum-classic&amp;pt=ETC&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_3UF1IuKAQ_R3&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Per the Sentiment data, the development data witnessed a drop of over 3.67% and dragged below the midline around 4.36, showing a negative outlook. However, the derivative data signifies a long buildup, reflecting bull accumulation; the open interest spiked over 2.80% to $101.65 Million in the intraday session.</p>
<p>Per the Fib levels, the ETC price has retested its 38.2% zone and reached the mid-Bollinger Band zone. Similarly, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.</p>
<p>The total supply of the ETC token is 210.70 Million, whereas the volume-to-market cap ratio is 0.0859, ranked 30 in market cap in the global crypto market.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The Ethereum Classic token (ETC) price hovers around the 200-day EMA mark and anticipates a rebound. However, the technicals signify neutrality, and the bulls will soon dominate the battle, and the token will outperform.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $25 and $22</p>
<p><strong>Resistance Levels:</strong> $28 and $30</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

ETC Price Prediction: Is ETC Poised For Rebound Toward $30?

Table of Contents

Thecoinrepublic.com

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