Ethereum Classic Technical Analysis: Price Consolidates in the EU/US Session

By Rajan Dhall, MSTA

• Ethereum Classic is trading 1.18% lower after the recent crypto gains take a breather.

• The price is heading to the 55 EMA which has been used as support in the past.

   

   ETC/USD 4-Hour Chart

   

  The 4-hour chart below shows that the price of ETC/USD is consolidating following recent gains.
  The price has made a lower high wave and now the previous wave low of 4.71 is under threat.
  There are a few things in the way of support nearby.
  
  The 55 EMA has acted as support in the past on the chart and there is a trendline close to price too.
  Beyond that, the next major psychological level is 4.00.
  
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