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ETC/USD technical analysis: Still some way to go to be very worried

FX Street
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  • Ethereum Classic is still looking bearish but the bulls defended the price at 4.000.
  • The RSI indicator is showing a bullish divergence on the daily chart.

 

Ethereum Classic was not immune to the crypto price crash on Wednesday.

Today the price has retraced nearly 2% as the market looks to find some support.

There is a large descending triangle on the chart that has been tested but price bounced off.

The RSI indicator is showing a bullish sign but this can just be a sign of bearish momentum slowing.

The main support zone on the daily chart is the 3.300 low and we are some way away at the moment

ETC analysis

 

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