ETC - Technical review and analysis

The price of Ethereum Classic is in a downward trend in many timeframes. A decline in price to the considered support levels is expected. The first support range is $17.75-$16, and there is a possibility of breaking this level due to the lack of buying power.

Therefore, closer but more important support is considered in the range of $14.90-$16. If the price hits this level and forms a possible positive divergence, we can expect a positive swing from This range to be seen up to the ceiling of the descending channel. This support area overlaps with the midline of the main descending channel, and given that the biggest bullish wave of the past few months started from this level, a return to this area could activate some dormant buy orders. We expect the price to return only in case of a good and strong reaction.