Rajarshi Mitra
Independent Analyst
- ETC/USD confluence detector shows healthy resistance at $4.72.
- Support levels at the downside include $4.66 and $4.62.
ETC/USD has gone up from $4.69 to $4.70 so far today. As the bulls take back control of the market, they aim to re-enter the $5-zone. The upside is immediately capped at $4.72, which has massive resistance. The hourly breakdown shows us that the price spiked to $4.75, met resistance and then dropped to $4.70. On the downside, support levels lie at $4.66 and $4.62.
ETC/USD daily confluence detector
Healthy resistance lies at $4.72 and $4.97. $4.72 has the four-hour previous high, one-week Fibonacci 61.8% retracement level, 10-day Simple Moving Average (SMA 10) curve, one-hour previous low and 15-min previous high. $4.97 has the one-month Fibonacci 23.6% retracement level.
On the downside, support levels lie at $4.66 and $4.62. $4.66 has the SMA 10 and one-day Fibonacci 38.2% retracement level, while $4.62 has the SMA 5 curve and one-week Fibonacci 38.2% retracement level.
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