• On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the overhead resistance.
• On the downside, if the bulls fail to break above the EMAs, the ETC price will fall.

ETC/USD Medium-term Trend: Bearish

• Resistance Levels: $9.5, $10.0  $10.5
• Support levels: $8.5, $8, $7.5

Yesterday, June 10, the price of ETC was in a bullish trend. From the price action, the ETC price is at the support of the 26-day EMA but below the 12-day EMA. In early June, the coin reached a high of $9.80 overhead resistance level. On June 3, the bulls were resisted and ETC market commenced a downward correction to the support of the 26-day EMA.

On the upside, if the bulls break above the EMAs, the crypto’s will rise to retest the overhead resistance. On the downside, if the bulls fail to break above the EMAs, the ETC price will fall.
From the Fibonacci tool, the crypto’s price is above the 0.382 Fib. retracement level.

The ETC price is in the continuation zone of the Fib. retracement level. If the bulls defend this level, the coin will resume its bullish trend. Meanwhile, the ETC market has reached the oversold region of the daily stochastic but below the 40%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. After the bulls were resisted at the $9.80 overhead resistance, the crypto’s price now fluctuates between the levels of $7.40 and $8.60.

The crypto’s price is characterized by small body candlesticks like the Doji and the Spinning tops. Meanwhile, the market is in the oversold region of the daily stochastic but above the 40%range. This indicates that price is in a bullish 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.