ETC/USD Long-term Trend: Bearish. Resistance levels: $8, $10, $12 Support levels: $5, $3, $1.

The overall view of the ETC/USD pair was that it had been in a bearish trend zone since January. In the month of January, the crypto’s price traded and fell from the high of $5.15 to the low of $4.00 price level. In other words, ETC price lost 22.33% of its capitalization. On February 8, the crypto’s price was in a bullish trend.

The bulls broke the 12-day EMA but were resisted at the 26-day EMA. The crypto’s price was facing resistance at the $4.2 price level. On January 13, the support level at $4.20 was broken by the bears and has become a resistance level to the bulls.

The ETC price is likely to rise if the crypto’s price is sustained above the EMAs and the bulls break the resistance level. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The stochastic is out of the oversold region but above the 20% range which indicates that the ETC 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.

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