- ETC price analysis is sideways for today, up by 0.4%.
- The coin is staying strongly above the $51.8 support level.
- The price resistance is present at $54.75.
ETC price analysis is in a stagnant mood today and recorded the highest price at $53.5 and lowest at $51.8. The price movement seems to be in the bearish zone on the daily chart, but the overall bull rally will definitely stretch the price to the bullish zone. The ETC/USDT pair is up by 0.1%, and the CoinmarketCap data shows that the trading volume is down by 19%, currently residing at $682 million with a market dominance of 0.27%.
ETC price movement in recent days
The ETC/USDT pair has not seen quite a dramatic move like the other coins in October. The price of the coin increased by 14% at the start of the month. However, ETC has been showing stagnant behavior in the past three weeks.
The price surged by 12% this month, rising from $46.6 to the highest of the month at $57.45. The coin is currently trading around $52.65.
ETC price analysis on the 24- hour chart using indicators
ETC price analysis is below 50-day and 100-day moving averages, but we can expect a bullish movement in the upcoming weeks.
We can see that the Bollinger Bands is narrow, indicating a decrease in volatility which is visible in its stagnant attitude. We can expect a huge breakout from the lower end in the coming days.
On the other hand, the RSI indicator displays a negative gradient which signals a higher selling pressure than the buying pressure. Also, as we can see that it reads below 50-level, bears are in control for now.
ETC price analysis: Conclusion
The long-term ETC price analysis is definitely bullish as the coin has seen a surge of 12% in less than a month. However, the short-term analysis signals a bearish smell around the coin. As the unwritten rule, if Bitcoin witnesses an outburst with a breach in its current all-time high (ATH), we can expect further upward movement in the altcoins, including ETC.