Ethereum Classic Price Outlook: ETC/USD faces bearish correction after five straight bullish days – Confluence Detector
- ETC/USD has no strong resistance levels of note.
- On the downside, there are two healthy support levels at $7.15 and $7.095.
ETC/USD daily confluence detector
ETC/USD has gone down from $7.41 to $7.37 in the early hours of Saturday. The bears have started correcting the price following five straight bullish days. The price can potentially go down to $7.15 before the sellers encounter their first level of note. This level has the one-week Fibonacci 38.2% retracement level. Following that, the next support level of note is at $7.095, which has the one-month Fibonacci 23.6% retracement level and one-day Fibonacci 161.8% retracement level. On the upside, there are no strong resistance levels.
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.
