ETC/USD, Daily Chart Analysis 7/10

KRAKEN:ETCUSD   Ethereum Classic / U.S. Dollar
Implications and Outlook
1. The crypto currency segment is continuously trading in summer season style, with lower volumes across the board, except for an occasional call to sudden price spike higher to specific resistance levels. The trading pattern has been predominant during the past few weeks, without having significant follow-through, which by the way continues to be present with the minimum divergence in between the vital crypto coins.

2. Price action has created the value of the new intermediate-term Key Resistance of $18.700, which is a part of the completed Coin Rally valued at $18.900.

3. Further Ethereum Classic bearish momentum is very likely to reach intermediate Mean Support $14.600. And should the bearish momentum hit this support in the interim; it would be a negative sign from a technical as well as fundamental perspective.

4. The value of the intermediate medium to long-term Key Support of $12.500, along with Yearly Low of $12.000, and overall Coin Dip $10.200 will be a primary target for the bears.

5. Current Coin Strategy Bias: Bullish 70 / Bearish 30


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