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ETC/USD Long-term Trend: Bearish
Resistance levels: $14, $18, $22
Support levels: $8, $6, $4.
The overall trend of ETC/USD pair was a downward trend in the month of October 2018. On October 1, Ethereum Classic had an opening balance of $11.34. The digital currency made a single downward fall to the low of $9.21 and commenced a range bound movement. Today, being the first week of November, ETC will continue a range bound movement. However, if the cryptocurrency continues its downward trend the support levels will be breached.
The crypto’s price is expected to fluctuate above the $9 price level. Presently, Ethereum Classic is trading at $9.15 as at the time of writing. Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell 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.
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.