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Long-term trend ETC / USD: bearish.
- Resistance levels: $ 8, $ 9, $ 10
- Support levels: $ 4, $ 3, $ 2.
The ETC / USD pair is still bearish as the price reaches a minimum of $ 4.05. The price of ETC is lower than the 12-day EMA and the 26-day EMA which indicates that the price of ETC is likely to decline. The 12-day EMA and the 26-day EMA are trending south to indicate that the price is decreasing. Meanwhile, the Stochastic indicator is reading that the bands are below the 20% range.
This implies that the price of ETC has a strong downward impulse and a sales signal. The price of the ETC will remain bearish as long as the stochastic bands are in the oversold region. However, the price of ETCs is lower than the 12-day EMA and 26-day EMA, indicating that there is a downward trend. The MACD line and the signal line are below the zero line indicating a sales signal.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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