Lorenzo Stroe
Independent Analyst
- ETC/USD has started consolidating after a significant breakout in the last week.
- The trading volume has been increasing notably.
Ethereum Classic is currently in a strong daily uptrend after a big breakout above $6,8 on July 27. ETC is up by 25% in the past 10 days following the steps of other major coins like Bitcoin and Ethereum.
ETC/USD daily chart
Obviously, ETC is in an uptrend and trading way above both EMAs but the RSI is on the overextended zone. The next crucial resistance level is located at $7.56, a level that was established on May 30. Unfortunately, ETC is still far away from its 2020-high at $13.17. For support bulls will use the daily 12-EMA, currently at $6.7 followed by the 26-EMA at $6.47 and then the daily low of $6.21.
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