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Etheruem Classic Price Forecast: ETC/USD bulls face strong resistance levels on the upside– Confluence Detector

Etheruem Classic Price Forecast: ETC/USD bulls face strong resistance levels on the upside– Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

ETC/USD daily confluence detector

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ETC/USD dropped from $7.27 to $6.79 over the course of Wednesday. The bulls have a daunting task upfront as the daily confluence detector shows several strong resistance levels. The $6.80 level has the one-month Fibonacci 38.2% retracement level. Up next, we have the $7-level, which has the daily Pivot Point one support-one. Finally, the $7.21 resistance level has the Previous Week high. 

On the downside, we have healthy support at $6.75, which has the one-week Fibonacci 38.2% retracement level and one-day Pivot Point support-two.
 

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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