Ethereum Classic could revisit the mid-April $25-26 levels with the latest bearish trend. EOS, on the other hand, could be in danger of a 17% drop if it breaks out of the ascending wedge pattern.
Ethereum Classic (ETC) price analysis
From May 25-29, Ethereum Classic’s ADX indicator is on a steady line. As the market becomes less and less directional, ETC’s bounce from $39 to $83 becomes more and more lacking in prolonging its rally. Therefore, it came as no surprise that ETC failed to break through its upper ceiling and post sharper gains. ETC is not expected to record major price fluctuations in the coming sessions as the market has low volatility.
If there is a break below $39.4, ETC will likely move towards the mid-April levels of $25-26. After bouncing back from the oversold zone, the RSI once again turned to a downtrend, signaling weakening momentum.
EOS price analysis
An ascending wedge pattern has been seen on the 4-hour chart of EOS and the price may be on the verge of a pullback. A dip below the lower trendline could result in a 17% pullback towards $5.03. On the other hand, a surge above $7.76 and the 200-SMA (green) will invalidate this bearish formation. If the RSI continues its way into the oversold zone, the chance of a crash will increase.
On the other hand, while the MACD line is still above the half line, its histogram has recorded neutral bullish momentum. Further consolidation within its model is also an option, but a threat of collapse still exists.