Rajarshi Mitra
Independent Analyst
- ETC/USD bulls face four strong resistance levels at $6.81, $6.87, $6.93 and $7.10.
- The daily confluence detector shows one healthy support level at $6.59.
ETC/USD daily confluence detector
ETC/USD bears dropped the price from $6.97 to $6.71. The daily confluence detector shows multiple strong resistance levels at –$6.81, $6.87, $6.93 and $7.10.
$6.81 has the one-month Fibonacci 38.2% retracement level. After that, the $6.87-level is highlighted by the one-day SMA 200, while $6.93 has the one-week Fibonacci 61.8% retracement level. Finally, the $7.10-level has the one-month Fibonacci 23.6% retracement level, among others.
On the downside, good support lies at $6.59, which has the one-day Fibonacci 161.8% retracement level.
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