Possible another leg up for ETC but classical bearish divergence spotted. still quite many days to ETC.
Crucial point for another leg up: ETC needs to push through previous high- 0.00302242 (Pink price ticker)
-Possible targets identified with green ticker where pull back could happen if we dont go through resistance (pink price ticker mark)
- Spinner candle potential sign for trend reversal on 2h chart
Indicators:
CCI: needs to have reversal (bounce from 0 --> green arrow) to have a chance to og up
MACD: showing potential divergence if there is no bounce
RSI: bearish divergence verified on RSI.
While There is still quite some time till airdrop comes..I assume we will have pull back eventually before we really start to go.
Orange prices represent possible bounce zones if pull back indeed happens and are established on historical bases (fibs) of previous runs. There is a possible potential for a price to establish H&S in next few days and if the neck line will not provide support the height of the head to the neck line represents a potential drop down distance from the neck line...which will also bounce inside red zone.
Crucial point for another leg up: ETC needs to push through previous high- 0.00302242 (Pink price ticker)
-Possible targets identified with green ticker where pull back could happen if we dont go through resistance (pink price ticker mark)
- Spinner candle potential sign for trend reversal on 2h chart
Indicators:
CCI: needs to have reversal (bounce from 0 --> green arrow) to have a chance to og up
MACD: showing potential divergence if there is no bounce
RSI: bearish divergence verified on RSI.
While There is still quite some time till airdrop comes..I assume we will have pull back eventually before we really start to go.
Orange prices represent possible bounce zones if pull back indeed happens and are established on historical bases (fibs) of previous runs. There is a possible potential for a price to establish H&S in next few days and if the neck line will not provide support the height of the head to the neck line represents a potential drop down distance from the neck line...which will also bounce inside red zone.
Note
1st short term target reached @ 0.00316219Note
Pink price ticker could serve as a support if pull back happensNote
Watch out for the candle at 9:00 candle. Could mean pull back if we do nto get volume in. This is also resistance zone on historical chart from 28.11 @ 9:00 and 14.1. 7:00
Note
Currently we are at first heavy historical resistance. if we can go through it 0.0035 will be next challenge which is also psychological resistanceNote
All targets reached for short term.Trade closed: target reached
Short term targets reached. It looks like it has found possible support @ 261.80% but have in mind that it is still in parabolic state.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.