ETC is testing 9.47, an important level both for bears and bulls. If we see a break below 9.47 support, our bearish scenario will be triggered. In that case 8.88 support is a likely target. On the other hand, if we see 9.47 support holding up and stochastic turning upwards then we will follow a bullish scenario, targeting 10.12 and 11 respectively.
Comment:
Previously we have mentioned the importance of 9.47 support level for our bearish scenario. This level was a trigger and in case of a break below of this level, our target was 8.88. Looking at the graph today we see that our target has already been hit. That was a nice move.