• On the downside, if the bearish trend continues, the coin will depreciate to the low of $5.0.
• The bulls were resisted again as the bears made a final push to the low of $5.0.

ETC/USD Medium-term Trend: Bearish

• Resistance Levels: $9.5, $10.0 ¸ $10.5
• Support levels: $7.5, $7.0, $6.5

Yesterday, July 22 , the price of Ethereum Classic was in a bullish trend. The bulls tested the 12-day EMA and were resisted. On the downside, if the bearish trend continues, the coin will depreciate to the low of $5.0. In retrospect, on June 2, the ETC price reached a high of $9.5 but was resisted.

The market was on a downward correction to a low at $8.0 price level. At the $8.0 price level, the bulls resumed their upward move and retested the $9.50 resistance level. The bulls were resisted again as the bears made a final push to the low of $5.0. Meanwhile, the ETC market has reached the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and a buy signal.

ETC/USD Short-term Trend: Ranging

On the 1-hour chart, the ETC price was in a bearish trend. The 12-day EMA and the 26-day EMA are sloping horizontally indicating that price is in a sideways trend. The crypto’s price is characterized by small body candlestick like the Doji and Spinning tops describing the indecision between the buyers and sellers at the current market price.

Meanwhile, the market is in the oversold region of the daily stochastic but below the 20%range. This indicates that price is in a bearish momentum and a sell signal.

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