Ethereum Classic Price Analysis: ETC/USD bulls fail near the $7-level

Updated: 14 Aug. 2020 | 03:47

ETC/USD bulls ran out of style near the SMA 200 curve.
MACD shows sustained bearish momentum.

ETC/USD daily chart

ETC/USD faced bearish correction following two straight bullish sessions. The price dropped from $6.925 to $6.889. The moving average convergence/divergence (MACD) shows sustained bearish market momentum.

There are four strong resistance levels at $6.96 (SMA 200), $7.09 (SMA 20), $7.143 and $7.41. On the downside, we have three healthy support levels at $6.75, $6.515 (SMA 50) and $6.45.

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