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Ethereum, ETC, Bitcoin SV Price Analysis: 30 December



Source: Pixabay

Ethereum had strong bullish momentum behind it after its ascent past the $700 mark in the past week. A move above $750 could see ETH reach $800, with $819 a projected target for bulls. Ethereum Classic was unable to hold on to its gains after rising past $6 and was forced back to a level of support. Bitcoin SV could also be headed south in the coming days.

Ethereum [ETH]

Ethereum, Ethereum Classic, Bitcoin SV Price Analysis: 30 December

Source: ETH/USD on TradingView

Ethereum reached a local top of $747 and dipped to $688 over the past 36 hours. The $688 level represents the 23.6% retracement level for the move to the local high from $530.

The RSI showed bullish momentum for ETH and stayed above the neutral 50 line to indicate an uptrend in progress.

Using Fibonacci extension for this move, a 27% extension presented a target of $819 for the price. A session closing above $750 could see ETH head toward the psychological $800 level.

Ethereum Classic [ETC]

Ethereum, Ethereum Classic, Bitcoin SV Price Analysis: 30 December

Source: ETC/USDT on TradingView

ETC was unable to climb past the $6.15 region that has served as a pocket of liquidity in the past. The sellers overwhelmed the buyers and forced the price back down to the level of support at $5.66.

The MACD formed a bearish crossover and descended beneath the zero line. Losing the $5.66 level to bearish pressure would accelerate ETC’s drop over the coming days.

The next level of support lies at $5 for ETC.

Bitcoin SV [BSV]

Ethereum, Ethereum Classic, Bitcoin SV Price Analysis: 30 December

Source: BSV/USDT on TradingView

Using the Fibonacci retracement tool for BSV’s drop from $220 to $150, it can be seen that the price has found support atop the 23.6% retracement level. However, its movement has lacked a definite direction over the past few days.

It rose briefly to $175 but was forced to dip as low as $155 a few hours ago. The region of resistance at $175 has acted as stubborn resistance for a week, making it a target for bulls.

The longer-term trend has seen rising selling volume on the OBV but the past week saw bulls fight back and the OBV noted a series of higher lows.

A close below $164 on strong volume would see BSV drop to the $152 support level once more.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.