Ethereum Classic dips under 7.000 again, where can you find support?

  • Ethereum Classic dips under 7.000 again as sentiment turns sour.
  • In general, cryptocurrencies are lower after central bankers slate digital currencies.

 

Ethereum Classic moved lower today after Fed’s Powell and SNB’s Jordan say cybersecurity is a massive concern when it comes to cryptocurrencies

ETC/USD dropped below 7.00 after the comments and 6.500-048 could be an area where the market finds support. 

On the RSI indicator, there is also a support like that the price might bounce off but if it breaks it may indicate further weakness.

On the price wave front, a new higher low was created at 5.738 but for that trend to continue a break of 7.690 would be needed. 

Looking at the volume on the chart, when the positive moves happen it seems to be backed by higher volume. 

Ethereum Classic Chart

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