Key HighlightsEthereum classic price formed a major low at $13.54 and is currently moving higher against the US dollar. There was a break above a major bearish trend line with resistance at $17.80 on the hourly chart of the ETC/USD pair (Data feed via Simple FX). The pair is currently grinding higher and it could move above the $20.00 level in the near term. Ethereum classic price is slowly and steadily moving higher against the US Dollar and Bitcoin. ETC/USD may soon gain traction for more upsides above $20.00. Ethereum Classic Price TrendRecently, we saw a major decline in ETC price below the $20.00 support against the US dollar. The price traded below the $18.00 and $16.00 support levels. It even traded below the $15.00 support, but found bids near the $13.50 level. A low was formed at $13.54 from where an upside correction was initiated. It moved above the 38.2% Fib retracement level of the last decline from the $24.30 high to $13.54 low. Moreover, there was a break above a major bearish trend line with resistance at $17.80 on the hourly chart of the ETC/USD pair. The pair traded above the $18.50 resistance and tested the 100 hourly simple moving average. It seems like the $20.00 resistance and the 61.8% Fib retracement level of the last decline from the $24.30 high to $13.54 low is acting as a hurdle for more gains. The pair has to move above the $20.00 level and close above the 100 hourly SMA to rise further higher. On the downside, an initial support is around the $18.50 level. It seems like there is an ascending channel forming on the same chart and the pair could rise slowly higher above the $20.00 level. Hourly MACD – The MACD for ETC/USD is slightly placed in the bullish zone. Hourly RSI – The RSI for ETC/USD is currently just around the 50 level with a minor bearish angle. Major Support Level – $18.00Major Resistance Level – $20.00 Charts courtesy – SimpleFX Ethereum Classic Technical Analysis – ETC/USD Grinding Higher was last modified: March 31st, 2018 by Aayush Jindal