ETC Technical Analysis: Bullish Failure Retests $33.5

ETC prices fail to sustain the bullish momentum in the falling market resulting in a post-retest reversal from $33.5. Will the reversal break $24? Key technical points: ETC market price decreased 12.73% in the last 24 hours. The market price breaks under $30. The 24-hour trading volume of Ethereum Classic is $778 Million, reflecting a hike of 10%. Past Performance of ETC Failing to surpass the psychological mark of $50, the ETC market price falls drastically over the past month resulting in the breakout of multiple support levels. The bearish trend deflates the market value by 40% in the last month starting with an evening star pattern at $50. However, the falling trend halts with a lower price rejection at $24 and restarts another failed bullish endeavor. The reversal fails to surpass the 50-day EMA resulting in a long-wick bearish candle cracking under the $28 mark. Source-Tradingview ETC Technical Analysis ETC prices an overnight increase in selling pressure evident by the jump in trading volume, increasing the chances of a downfall to the $24 mark. However, the increased trend momentum might struggle to surpass the bullish barrier at $24 as it remains a vital level to buy the dip. Facing higher price rejection at 50 EMA after the bearish crossover with the 100 EMA reflects the role of dynamic resistance by the average lines. On a side note, the EMAs regain the bearish alignment after the failed golden crossover attempt. Th...