In technical analysis, Ethereum Classic is a decentralized blockchain platform that facilitates the development of smart contracts. It is a hack-free and highly scalable network with censorship resistance functionality. ETC is the <a href="https://www.cryptoknowmics.com/news/etc-technical-analysis-expect-price-to-fall-with-selling-pressures/">native token of this</a> blockchain ecosystem.
<h2><b>Past Trends</b></h2>
On April 9, 2021, ETC started trading at $19.51. As of April 15, 2021, the closing price of ETC is $28.61. Thus, in the past week, the ETC price has surged by approximately 47%. In the last 24 hours, ETC has traded between $28.61-$33.67.

<img class="alignnone wp-image-193964" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/04/ETC-1-300x182.png" alt="ETC Price Analysis" width="635" height="385" />

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<a href="https://www.tradingview.com/x/usbtCuKN/">https://www.tradingview.com/x/usbtCuKN/</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, ETC is trading at $32.49. The price has increased from the opening price of $28.61. Thus, the market looks healthy.

The <strong>MACD line</strong> has turned negative but the signal line remains positive. A bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect a price pullback soon.

The <strong>OBV indicator</strong> is steadily falling. Thus, the selling volumes are higher than buying volumes. Heavy offloading will exert downward pressure on the ETC price. Thus, we can expect the price to start declining.

Currently, the <strong>RSI indicator</strong> is at 42%. It faced rejection at 48%. Hence, selling pressures are high. Thus, we can expect the price to start falling.
<h2><b>ETC Technical Analysis</b></h2>
Presently, the price is above the first Fibonacci pivot resistance level of $32.23. As the oscillators have indicated a price pullback, we can expect the price to soon fall up to the Fibonacci pivot point of $30.30. If the bearish forces remain strong, it may fall up to the first support level of $28.36 in a few hours.

The price has tested and fallen below<strong> 23.6% FIB retracement level</strong> of $32.47. If the price retests and breaks out of this level by day end, we can be assured that a price uptrend has set in. If it fails to do so, then the price downswing is expected to continue tomorrow as well.

ETC Technical Analysis - May Fall Up to the First Support Level of $28.36

As per the technical analysis, ETC tested and fell below 23.6% FIB retracement level of $32.47. If the price retests and breaks out of this level by day end, the price uptrend has set in. If not, then the price downswing is expected to continue tomorrow.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

ETC Technical Analysis - May Fall Up to the First Support Level of $28.36

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