Ethereum Classic Price Analysis — July 18

Ethereum Classic has tapped the critical $23.00 line for the first time since June 6, following a consecutive six-day rally. ETC also breached the daily 100 EMA for the first time since March and stands the chance of prompting a momentum change if it closes the day’s candle above this line. Better still, ETC could put $30.00 back into focus if it manages a candle close above the $23.00 mark.

However, the price appears to be in overheated conditions (see stochastic indicator), warranting some cautions on bullish bets. Regardless, the cryptocurrency stands a real chance of sustaining the newly acquired bullish momentum. As mentioned earlier, the price rejuvenation comes after the confirmation of a possible launch date for the Ethereum Merge upgrade.

Meanwhile, my resistance levels are $23.00, $25.00, and $30,00, and my support levels are $20.00, $18.00, and $17.00.

Total Market Capitalization: $1.01 trillion

Ethereum Classic Market Capitalization: $3.06 billion

Ethereum Classic Dominance: 0.3%

Market Rank: #24