Ethereum Classic has made an impressive run after bouncing on its Support, beating most of the other cryptocurrencies. Eventually it got rejected on the Resistance
Levels to watch:
- The 9.860 Resistance. Only the wick of the January 16 candle managed to break it but didn't close above it (still rejected on the higher Resistance). All candles have closed below that level.
- The 11.885 higher Resistance that rejected the wick of the January 16 candle.
- The 5.070 level which has been a pivot since March 2019 (acting both as Support and Resistance in times).
- Golden Cross emerging right above the 5.070, which may act as a Support this time.
Projection:
- Pull back near the 5.070 which acts as a Support and a Golden Cross that accumulates buyers back to the 9.860 Resistance.
Levels to watch:
- The 9.860 Resistance. Only the wick of the January 16 candle managed to break it but didn't close above it (still rejected on the higher Resistance). All candles have closed below that level.
- The 11.885 higher Resistance that rejected the wick of the January 16 candle.
- The 5.070 level which has been a pivot since March 2019 (acting both as Support and Resistance in times).
- Golden Cross emerging right above the 5.070, which may act as a Support this time.
Projection:
- Pull back near the 5.070 which acts as a Support and a Golden Cross that accumulates buyers back to the 9.860 Resistance.