Ethereum Classic (ETC) Long Term Price Forecast- December 29

Fibo Quantum

ETC/USD Long-term Trend: Bearish.

Resistance levels: $8, $10, $12
Support levels: $5, $3, $1.

The ETC/USD pair was in a bullish trend in the last week of December 2018. The ETC price has an opening balance of $4.62 in the month of December and a closing price of $5.55 as at the time of writing. In the other words, the crypto’s price has a 20% gain to its capitalization. From the chart, the crypto’s price is in the bearish trend zone.

Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal. The Stochastic indicator is in the oversold region but below the 20% range indicating that the ETC price is in a bearish momentum and a sell signal. The blue band of the stochastic is above the red band indicating that the current trend is reversing.The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.