Ethereum Classic Technical Analysis
Looking at the 4hour chart of ETC we can see some bullish signal with the Macd having an upward movement and the histogram supporting this action and in combination with the Rsi bouncing of the support level we could see a rise in the price of ETC
Although we have some good signals,we are still pushed by the downtrendline.We saw the price struggle between the resistance level and the uptrendline for a while.Now we have to wait and actually see if the price can break the Resistance Level at 25.89 dollars ($) as well as the downtrend line.If that happens the we can expect the price to reach the 32+ price range.
The market is still very unstable and every trade should be made with great caution.
For ETC at the moment we should place orders around 26-27($) dollars and expect profits from 32-35($) dollars for short term.
Placing stop orders at 22($) dollars.
- Pictures deface walls more often than they decorate them. (William Wordsworth) -
Although we have some good signals,we are still pushed by the downtrendline.We saw the price struggle between the resistance level and the uptrendline for a while.Now we have to wait and actually see if the price can break the Resistance Level at 25.89 dollars ($) as well as the downtrend line.If that happens the we can expect the price to reach the 32+ price range.
The market is still very unstable and every trade should be made with great caution.
For ETC at the moment we should place orders around 26-27($) dollars and expect profits from 32-35($) dollars for short term.
Placing stop orders at 22($) dollars.
- Pictures deface walls more often than they decorate them. (William Wordsworth) -
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