ETC/USD Long-term Trend: Bearish.

Resistance levels: $8, $10, $12
Support levels: $5, $3, $1.

The ETC/USD pair was bearish in the month of November 2018. On November 1, Ethereum Classic had an opening balance of $9.06. In the first two weeks of November, the crypto's price was fluctuating above the $9 price level before the outcome of the bearish breakout. Before the outcome of the bearish breakout, the 12-day EMA and the 26-day EMA were horizontally flat. On November 14, the crypto's price was resisted by the 12-day EMA and the price fell in a downward trend to the low of $4.39.

In the month of December, the ETC price will continue its downtrend if the price is below the two EMAs. On November 30, the crypto reached a low of $4.62. In other words, ETC has lost 49% of its capitalization in the month of November.Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell 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.

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