ETC/USD
Long-term Trend: Bearish.
·
Resistance levels: $8, $10, $12
·
Support levels: $5, $3, $1.
The ETC/USD pair had been in
a bearish trend zone since January 7. On January 7, the bears broke the 12-day
EMA, the 26-day EMAs and price fell to the low of $4.98. The crypto’s price
further depreciated to the low of $4.27 to commence a range bound movement. The
crypto’s price fluctuated at this price level until when resisted by the 12-day
EMA and it fell to the low of $3.97. On February 8, at the low of $3.87, the
bulls broke the 12-day EMA but were resisted at the 26-day EMA.
Today, the ETC price is currently trading at
$4.40 as at the time of writing. Meanwhile, the crypto’s price is below the
12-day EMA and the 26-day EMA which indicates that price is in the
bearish trend zone. The stochastic is out of the oversold region but above the
20% range which indicates that the ETC price is in a bullish momentum and a buy
signal.
The views and opinions expressed here do not
reflect that of BitcoinExchangeGuide.com and do not constitute financial
advice. Always do your own research.
Source: www.bitcoinexchangeguide.com
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