[ETC/USD] Long term: What is the future of ETC?
Updated
TREND:
Trending line has clear bearish tendencies since the end of February.
SUPPORT:
We are currently missing any major support line until around 2.662USD. Either we will create a new support by side action or we will fall in correlation with the trend line.
VOLUME:
Volume is proving to be not big enough for bulls. We can clearly see that bears are taking the lead. Should we see some change? If yes, then already mentioned side action is needed with higher highs.
RSI (100days):
It is currently on 42 (meaning of life?) which is not hugely oversold, therefore there is still lots of room for selling action.
Summary and prediction? I see ETC slowly falling down to the area of 2.662USD until the half/end of January.
If you agree, then your like is appreciated :)
Happy trading.
Trending line has clear bearish tendencies since the end of February.
SUPPORT:
We are currently missing any major support line until around 2.662USD. Either we will create a new support by side action or we will fall in correlation with the trend line.
VOLUME:
Volume is proving to be not big enough for bulls. We can clearly see that bears are taking the lead. Should we see some change? If yes, then already mentioned side action is needed with higher highs.
RSI (100days):
It is currently on 42 (meaning of life?) which is not hugely oversold, therefore there is still lots of room for selling action.
Summary and prediction? I see ETC slowly falling down to the area of 2.662USD until the half/end of January.
If you agree, then your like is appreciated :)
Happy trading.
Note
With the completely obliterated bull-run that happened 5 hours ago (or was it pump and dump?) I'm being even more bearish and modified buy zone from 2.66 USD to 1.3 USD.If you like my trading charts, consider following as I am going to bring more in the future.
Note
Just quick clarification WHY I am setting my buy zone to 1.3 USD:- I believe 2.66 USD support will be broken soon (no bull support atm)
- next support is at 1.170 USD (green line)
- therefore me being careful, setting a buy limit above 1.170 (1.3USD)
Trade closed: target reached
Again another of my ideas was DA TRUTH! There was plenty of time buy-in in the channel between yellow lines. If you did and hold, guess what - you have plenty of money now.Note
ATH, beautiful.
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