- Ethereum classic price declined recently and traded below the $26.00 support area against the US Dollar.
- There is a major bearish trend line forming with resistance near $27.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
- The pair traded as low as $24.01 recently and it is currently correcting higher.
Ethereum classic price is under bearish pressure against the US Dollar and Bitcoin. ETC/USD is currently correcting higher, but is facing hurdles near $27.00 and $27.50.
Ethereum Classic Price Resistance
There was a start of a new downside reaction from the $30.50 swing high in ETC price against the US Dollar. The price moved down and broke a few important support levels such as $30.00 and $28.00. It traded close to the $24.00 level and formed a lot at $24.01. It is currently correcting higher and has already moved above the 23.6% Fib retracement level of the last decline from the $30.00 high to $24.01 low.
At the moment, the price is facing…