Ethereum

Ethereum Classic

The post <a href="https://coinpedia.org/price-analysis/ethereum-classic-hints-a-bearish-pattern-etc-price-to-drop-10-soon/">Ethereum Classic Hints A Bearish Pattern! ETC Price To Drop 10% Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has displayed a strong bullish trend after trading under a bearish influence for a period. Moreover, the <a href="https://coinpedia.org/price-prediction/etc-ethereum-classic-price-prediction/">ETC price</a> has recorded a jump of approximately 13% in valuation within the past 24 hours, following which it faced correction in the chart. 
The <a href="https://markets.coinpedia.org/ethereum-classic/">Ethereum Classic price</a> had started the month of March on a bullish note by adding significant valuation to its portfolio within the first week. After recording a high of $39, the bulls lost momentum and displayed a sideways trend for about a week, indicating a cool-off in the price action. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/mOVjleBAI7Rk_ZTZVdl1S3TAThJcLyLVCqE4MbsRS9h-FBQqcyeHJuAWA4EXfLcx7CJC247BiQh1aT0eWH3FrdiUY_VPrFcLGoX-OhdltWraQn5C6iHkq2NEofjp4OVA6-VxPr0pOs9CCTeui9MB6LY" alt="Ethereum Classic Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ETC/USDT
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</figure> 
As the volatility in the market grew, the bulls lost momentum and started trading under a bearish influence. The Ethereum Classic price recorded a correction of approximately 30%, following which the bulls regained momentum and displayed a positive price action. 
However, the bulls faced correction after surpassing the resistance level of $34 on 29th March. This resulted in the altcoin forming a symmetric triangle pattern. Since then, the price has been constantly trading in the pattern, indicating a long-term bearish influence in the crypto market for this altcoin. 
The technical indicator, MACD, displays a decline in the green histogram, highlighting a decrease in the buying sentiment in the crypto market. Further, the averages show a constant rise, suggesting a mixed sentiment in the crypto space. 
Also Read : <a href="https://coinpedia.org/price-analysis/massive-rally-on-horizon-for-these-major-altcoins/">Massive Rally On Horizon For These Major Altcoins</a> 
<h2 class="wp-block-heading" id="h-will-ethereum-classic-go-high">Will Ethereum Classic Go High?</h2> 
If the market pushes its price above the resistance level at $34, it will successfully break out of the symmetric triangle and start trading under a bullish influence. Maintaining the price at that level will set the stage for the ETC price to attempt to test its upper resistance level of $36.50. 
Negatively, if a trend reversal occurs, the bulls will lose momentum and fall to test its lower support level of $31.25 during the upcoming week.

Ethereum Classic Hints A Bearish Pattern! ETC Price To Drop 10% Soon?

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