ETC/USDT Keep an eye on this support. Bounce or Break down ??
💎 ETC's market trajectory recently has garnered significant attention. A week ago, ETC successfully breached a key resistance level and is currently in a retesting phase at what was previously a resistance, now serving as support.
💎 If this retesting proves to be valid and ETC bounces off this support level, it could signal an extension of its upward movement, probability challenging the strong supply and bearish Order Block (OB) areas.
💎 However, should ETC fail to maintain this support level, it might indicate a false breakout. In such a scenario, ETC's price could revert to a downward trajectory, possibly reaching the demand area around $18.7 to gather momentum for a potential bounce.
💎 In the event of such a downturn, ETC would be perceived as reentering a bearish phase due to the false breakout. For a bullish resurgence, ETC would need to reclaim and consolidate above the $24 support level. If ETC aims to resume its upward journey and reach projected targets, maintaining this level is crucial. Conversely, a breach of the $18.7 demand level could lead to further decline, potentially driving ETC towards a more substantial support area.
💎 If this retesting proves to be valid and ETC bounces off this support level, it could signal an extension of its upward movement, probability challenging the strong supply and bearish Order Block (OB) areas.
💎 However, should ETC fail to maintain this support level, it might indicate a false breakout. In such a scenario, ETC's price could revert to a downward trajectory, possibly reaching the demand area around $18.7 to gather momentum for a potential bounce.
💎 In the event of such a downturn, ETC would be perceived as reentering a bearish phase due to the false breakout. For a bullish resurgence, ETC would need to reclaim and consolidate above the $24 support level. If ETC aims to resume its upward journey and reach projected targets, maintaining this level is crucial. Conversely, a breach of the $18.7 demand level could lead to further decline, potentially driving ETC towards a more substantial support area.
Do you Want to start trading like a PRO?
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
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.