Ethereum Classic Price Analysis: ETC/USD breaks past $11.50-level

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  • ETC/USD is on course of charting four straight bullish days.
  • The RSI indicator is hovering inside the overbought zone.

ETC/USD daily chart

ETC/USD daily chart

ETC/USD charted four straight bullish days to go up from $8.44 to $11.65, going past the $11.50-level, in the process. The last time ETC/USD was trending around this level was back in September 2018. Four days back, the price was trending horizontally, having found resistance at the $9.45 line, before the buyers gained momentum. Both the SMA 20 and SMA 50 curves have crossed over the SMA 200 curve, which is a bullish sign. The Elliott Oscillator has had three green sessions, following seven straight red sessions, while the MACD indicates increasing bullish momentum. The RSI indicator is hovering in the overbought zone, which hints at upcoming bearish correction.
 

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