2018-12-15 11:14 |
ETC/USD Long-term Trend: Bearish.
Resistance levels: $8, $10, $12
Support levels: $5, $3, $1.
The ETC/USD pair had been bearish since May 2018. The 12-day EMA and the 26-day EMA are trending southward while the crypto’s price is below the exponential moving averages. The ETC price has reached a low of $3.76 and possibly continue its bearish movement. The Stochastic has indicated that the bands are in the oversold region below the 20% range.
This implies that the crypto has a strong bearish momentum to continue its downtrend. The crypto’s price is expected to fall between the lows of $3 and $3.43. Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. There will be no trade recommendation until the bearish pressure is exhausted.
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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