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Ethereum Classic
Long

ETC Oversold - Long

By zbtmv
Updated
ETC firmly in oversold territory, testing previous lows. Given the coin's resilience last month to very bearish news, and better future news on the horizon with defi compatibility 51% protection and SHA-3, I expect we will see a bottom here soon and then the price will begin to climb toward $8 or $10 in the medium outlook.
Trade active
Double bottom on the 5 day chart in the $4.70 range, currently trading at $4.91. Support clearly very strong in the high ~$4 range, despite multiple large selling spikes. May continue to consolidate in the high $4 low $5 range before slowly climbing.
Trade closed: target reached
ETC at $5.35 as of writing. Played out exactly as described here. ETC no longer heavily oversold, so I am closing the trade.
Technical IndicatorsOscillatorsSupport and Resistance
zbtmv

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