- On the upside, if the price is above the EMAs, the crypto’s price will rise to retest the $9.50 overhead resistance level.
- The downtrend was corrected at the support of the 26-day EMA on June 6, and at a price of $7.96 price level. The crypto’s price is ranging above 26-day EMA indicating that the bearish trend has been terminated.
ETC/USD Long-term Trend: Bullish
- Resistance levels: $8, $8.5, $9
- Support levels: $8.0, $7.5, $7.0
The ETC/USD pair is still trading in the bullish trend zone. From the price action, the ETC market had a downward correction after the $9.50 overhead resistance. The downtrend was corrected on June 6 at the support of the 26-day EMA , and at a price of $7.96 price level. The crypto’s price is ranging above the 26-day EMA indicating that the bearish trend has been terminated. On the upside, if the price is above the EMAs, the crypto’s price will rise to retest the $9.50 overhead resistance level. However, if the bears pulled back price below EMAs the coin will be in a downtrend.
From the Fibonacci retracement, the crypto’s price is above the 0.382 (38.2%) Fib. retracement level. The 0.236 and 0.382 are Fib. retracement levels and continuation zones for a trending market. The stochastic is at the oversold region but above the 40% range which indicates that ETC price is in a bullish momentum and a buy signal.
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