• On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $7.5 and $9.5 resistance level.
• On the downside, if the bearish trend continues, the coin will depreciate 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 29, the price of Ethereum Classic was in a range bound move below the 12-day EMA and the 26-day EMA. On July 16, the ETC price was on a downward correction to the low of $5.0 price level. The  $5.0 support level was holding as the bulls made an upward move towards the EMAs. The ETC price is now in a range-bound move below the EMAs.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $7.5 and $9.5 resistance level. On the downside, if the bearish trend continues, the coin will depreciate to the low of $5.0.  Meanwhile, the ETC market has reached the overbought region of the daily stochastic but below the 60% range. This indicates that price is in a bearish momentum and a sell signal.

ETC/USD Short-term Trend: Ranging

On the 1-hour chart, the ETC price was in a sideways trend. The 12-day EMA and the 26-day EMA are sloping horizontally indicating that price is in a sideways trend. On July 27, the market fell to the low of $5.80 and crypto's price commenced a range-bound move below and above the EMAs.

Meanwhile, the market is in the oversold region of the daily stochastic but below the 40%range. This indicates that price is in a bearish 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.