Ethereum

Ethereum Classic

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ethereum-classic-price-analysis-will-this-launch-help-etc-price-exceed-20-or-crash-under-17/">Ethereum Classic Price Analysis: Will This Launch Help ETC Price Exceed $20 Or Crash Under $17?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
The ETC coin price has been on a downward trend for the past week, completing a negative trend within a falling channel. The price was rejected at the resistance trendline, leading to a 5% drop in the price of ETC over the last five days. 
The falling <a href="https://coinpedia.org/price-prediction/etc-ethereum-classic-price-prediction/" rel="noopener noreferrer nofollow">price of Ethereum Classic</a> warns of a prolonged selling spree if it breaks below the channel pattern.&nbsp; 
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 <img decoding="async" src="https://lh4.googleusercontent.com/bvy8Vzs0V3sK-S6xMa4OtoDxSojA6ZRnAKIGVnZKM9Sh9r7tRrnBBq6jzfU0cXz26p4xvLyboN_0k_dNkywYE21XkFLP-DnfMvu6qIh7_J2639Z8QjTfJLB9Mf8T1UgdFsv6WgrGTP_ZnNfr79hxRWA" alt=""> 
</figure> 
Currently, the ETC prices struggle to take second support at the 50% Fibonacci level at $17.83. However, the price action still depicts a bullish flag pattern and maintains the positive reversal theory. The price action also depicts a double bottom forming at $17.83, increasing the reversal chances.&nbsp; 
Additionally, the RSI and MACD indicators fail to display any bullish divergence to support a reversal theory. The RSI line falls trends lower than the halfway line with an uptick. Meanwhile, the MACD indicator shows a remarkable growth in bearish histograms.&nbsp; 
Currently, the ETC price forms a doji candle at the support confluence of the 50% Fibonacci level and the support trendline. This projects a possibility of a morning star pattern formation, leading to a bull cycle within the channel to $18.75.&nbsp; 
On an optimistic side note, the flag breakout rally can pump the ETH prices by 15% to challenge the overhead supply at $20. 
On the flip side, a fall below the 50% Fibonacci level will plunge the ETC prices to $17.&nbsp;

Ethereum Classic Price Analysis: Will This Launch Help ETC Price Exceed $20 Or Crash Under $17?

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