Ethereum Classic Price Forecast: ETC/USD peeks above $6.50 – Confluence Detector
ETC/USD daily confluence detector
ETC/USD bulls were able to push the price above the $6.50 zone. The price had earlier gone up from $6.34 to $6.54. The daily confluence detector shows three strong resistance levels at $6.60, $6.68 and $6.80.
The $6.60-level has the one-day SMA 100 and one-day SMA 5. Following that, the $6.68 one-day SMA 20 and 4-hour Bollinger Band upper curve. Finally, the $6.80 resistance level is highlighted by the one-month Fibonacci 38.2% retracement level.
On the downside, healthy support lies at $6.34. This level has the one-day Fibonacci 23.6% retracement level and one-day Bollinger Band lower curve
Author
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.
