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ETC/USD Long-term Trend: Bearish.
- Resistance levels: $8, $10, $12
- Support levels: $5, $3, $1.
The ETC/USD pair is now in a bullish trend. In the last two weeks of December, the crypto's price had been bearish as the price fell from the high of $4.62 to the low of $ 3.67. In the lower time frame, the bulls commenced bullish movement on December 16 which has broken the 12-day EMA and 26-day EMA. While in the weekly chart a single candlestick representing the bullish movement. From the weekly chart, the Stochastic is in the oversold region below the 20% range.
This means that the ETC price is in a strong bearish momentum and a sell signal. Price will continue to trend downward. 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.
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