Crypto Technicals: ETC/USD extends weakness for the 2nd straight session, intraday bias turning bearish

ETC/USD chart - Trading View

Exchange - Kraken

Support: 6.795 (200H SMA); Resistance: 7.159 (5-DMA)

Technical Analysis: Bias is turning bearish

Ethereum Classic slips lower after brief period of consolidation, trades 3.48% lower at 7.024 at 05:45 GMT.

Upside in the pair was capped at 100-DMA, is extending weakness for the second straight session, slips below 5-DMA.

Cloud is offering strong support at 6.938, break below will see further weakness.

RSI has turned lower from near oversold levels. 5-DMA has turned and volatility is rising on the intraday charts.

The pair has slipped below hourly cloud and major EMAs on the hourly charts.

Strong support lies at 200H SMA at 6.795. Break below will see further downside. Dip till 200-DMA at 6.368 likely.

TokenPost | [email protected]