ANALYSIS COURSE ETHEREUM CLASSIC 01.08.2016

Technical Analysis Prices Ethereum Classic - continuous growth

The recent rise of prices Ethereum Classic was quite impressive, and it looks like the price is going to continue to grow in the near future.

Key points

Price Ethereum Classic (ETC) is moving forward and is trading at 0.0030 BTC level.

Currently, there is a model tapering triangle formed by the 30-minute chart ETC / BTC, which may be broken in the near future for the next movement.

Referring to the current mood of the market to break up the odds more likely. The recent rise of prices Ethereum Classic was quite impressive, and it looks like the price is going to continue to grow in the near future.

Trend Ethereum Classic

Price Ethereum Classic ETC recently grown well, the bulls managed to break some major resistance levels. The most important point is that the price has broken through the 100 and 200 moving average on the 30-minute chart, and stopped at the level of 0.0030 BTC.

Currently, there is a converging triangle pattern formed on the 30-minute chart ETC / BTC, which can act as a catalyst for the next movement. It is more like a bull model that will be able to assist obtain greater profits in the short term, if the bulls ETC does not cease to have effect. Price correction has produced and tested the 38.2% Fibonacci retracement level from 0.0023 BTC to 0.0030 BTC.

Technical Analysis Prices Ethereum Classic

There is a possibility that the price correction is already completed, and will continue to trade with an increase in the near future. A break above the triangle resistance area may open the door for a break above 0.0030 BTC. Technical indicators are bullish and expect big profits. If all the bears will move, and the bulls fail, break the triangle support can send the price towards the 50% Fib and then back to 0.0023 BTC price to 0.0030 BTC.

All MACD - MACD indicator is in bullish zone, calling to obtain additional income in the ETH.

All RSI - RSI indicator adheres to the 50 level, indicating growth in the near term.

The main level of support - 0.0027BTC

The main resistance level - 0.0030BTC