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Ethereum Classic Price Prediction: ETC/USD bulls charge towards $7 range – Confluence Detector

  • The bulls managed to make a comeback following a heavily bearish Wednesday.
  • ETC/USD has one strong resistance level at $7.11.
Ethereum Classic Price Prediction: ETC/USD bulls charge towards $7 range – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily confluence detector

fxsoriginal

ETC/USD bulls took charge of the market and pushed the price up from $6.80 to $6.97. The bulls have the momentum required to push past the $7-level. If they manage to do so, the buyers will need to overcome resistance at $7.11, which has the one-day Fibonacci 61.8% retracement level and the one-week Fibonacci 23.6% retracement level.

On the downside, the price is supported by healthy support at $6.93, $6.81 and $6.66. The $6.93-level has the one-week Fibonacci 61.8% retracement level, among others. Up next, the $6.81-level has the one-month Fibonacci 38.2% and one-day Fibonacci 23.6% retracement levels. Finally, the $6.66-level has the one-week Fibonacci 23.6% retracement level and one-day SMA 50.
 

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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