Market Analysis of Ethereum, ETC, Bitcoin SV for December 30th

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

Ethereum [ETH]

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

Source: ETH/USD on TradingView

Ethereum has reached a local top of $747 and has plunged to $688 over the past 36 hours. The $688 level represents the 23.6 percent retracement level for moving from $530 to the local high.

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

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

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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 liquidity pocket in the past. The sellers overcame the buyers and forced the price back to the level of support of $5.66.

The MACD formed a bearish crossover, descending below the zero line. Losing $5.66 to bearish pressure would accelerate ETC’s decline over the next few days.

The next level of support is $5 for the ETC.

Bitcoin SV [BSV]

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

Source: BSV/USDT on TradingView

Using the Fibonacci retracement tool to reduce BSV from $220 to $150, it can be seen that the price of support has been found at the top of the 23.6 percent retracement level. However, in the last few days, its movement has lacked a definite direction.

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

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The long-term trend has seen an increase in sales volume on the OBV, but in the past week bulls have been fighting back and the OBV has seen a number of higher lows.

Close to $164 on a large volume would see BSV drop to $152 in support again.

 

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