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Ethereum Classic Price Forecast: ETC/USD lacks healthy support – Confluence Detector

Ethereum Classic Price Forecast: ETC/USD lacks healthy support – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily confluence detector

fxsoriginal

ETC/USD bears took the price down from $6.85 to $6.43. As per the daily confluence detector, there is a lack of healthy support levels, which shows that further price drops can be expected. On the upside, we have two strong resistance levels at $6.77 and $6.80.        

$6.77 has the daily Pivot Point one support-one and one-day SMA 200. Up next, the $6.80-level has the one-month Fibonacci 38.2% retracement level. 
 

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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