Ethereum Classic. Break up or down?
Something interesting has been happening on Ethereum Classic (ETCBTC) in the last day.
There's been a huge dip in volume after it jumped from .001750 to .002300. There was definitely a bearish divergence that was indicative that the price was going to pivot to the downside. We've been falling since then, but for the last ~18 hours there has been a strange uptick in volume (although the price hasn't changed much).
I would consider this an accumulation zone (or consolidation zone). It's definitely trying to figure out what it wants to do next, therefore this is a no trade zone for me, however I will be keeping an eye out for movements either way.
There are indicators that in the next few hours this might see an uptick in price which could allow it to break upward. The key resistance is currently being tested.
Again. No trade zone here. Watch for confirmation one way or another.
There's been a huge dip in volume after it jumped from .001750 to .002300. There was definitely a bearish divergence that was indicative that the price was going to pivot to the downside. We've been falling since then, but for the last ~18 hours there has been a strange uptick in volume (although the price hasn't changed much).
I would consider this an accumulation zone (or consolidation zone). It's definitely trying to figure out what it wants to do next, therefore this is a no trade zone for me, however I will be keeping an eye out for movements either way.
There are indicators that in the next few hours this might see an uptick in price which could allow it to break upward. The key resistance is currently being tested.
Again. No trade zone here. Watch for confirmation one way or another.
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