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Ethereum Classic Price Analysis: ETC/USD faces immediate resistance at SMA 20 and SMA 200

  • ETC/USD bears have retained control of the market for three straight days.
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Ethereum Classic Price Analysis: ETC/USD faces immediate resistance at SMA 20 and SMA 200
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily chart

ETC/USD daily chart

ETC/USD bears have retained control of the market for three straight days. The price has gone down from $6.88 to $6.846. The MACD shows increasing bearish market momentum.

ETC/USD has strong resistance levels at $6.93 (SMA 20), $7 (SMA 200), $7.12 and $7.42.  On the downside, we have healthy support levels at $6.65, $6.44 (SMA 50) and $6.28.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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