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ETC/USD Long-term Trend: Bearish.
Resistance levels: $14, $16, $18
Support levels: $6, $4, $2.
The ETC/USD pair had been bearish in the last two weeks of November. On November 1, the crypto had an opening balance of $9.06. On November 6, the digital currency had reached a high of $10.04. The following day price was resisted and it broke the 12-day EMA and the 26-day EMA. As the crypto is below the exponential moving averages, price further depreciated to the low of $7.49.
The 12-day EMA acted as a resistance to the price of Ethereum classic. 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 Stochastic indicator has reached the range below 20 which indicates that the momentum of price is strong on the downside. There is a tendency for the digital currency to continue its fall.
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