After an amazing run to $175, ETC is in a period of consolidation with reduced volume and has formed a strong support at $80.
IF Bitcoin descends even lower to 46k, ETC will most likely retest the strong support.
HOWEVER I believe Bitcoin should breach its current resistance line meaning ETC will continue its next leg up and form a breakout!
TARGET 1 $180
TARGET 2 $300
At the beginning of 5th Wave Impulse here. Fibonacci levels for goals and expected time for completion. Invalidated if we drop below start of fractal. I will be watching this space carefully and modifying goals, as the market action unfolds.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (6.35). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ETCUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Hi guys. ETHUSD has now reached the zone of accumulation. We have a strong mirror level of 5.38. We are waiting for a strong break of the price of this level up, hacking above the level, and a false breakdown. After that, we open BUY to the next strong level 5.90
Hello, Traders!
Monfex is at your service and today we overview ETC/USD.
For now Ethereum Classic has the bearish divergence with RSI that can tell us about nearest target - the support zone.
First scenario:
After reach the support zone ETC will bounce up from it and break the resistance line with goal of ex-support line and MA200 also will be there....
Action: Set limit sell orders between $7.715 and $7.456
Stop Loss: $8.053
Take Profit: $6.948
Order valid: 12 hours from publication
A double top is extremely likely here.
I am entering 50% of my position in the above zone and will wait for more bearish confirmation to enter the rest.
Disclaimer: This material should not be the basis for making investment...
Action: Set a stop buy order at $7.097
Stop Loss: $6.863
Take Profit: $7.447
Order valid: 12 hours from publication
Disclaimer: This material should not be the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions, and is not related to the provision of advisory services regarding investment, tax, legal,...
Action: Set limit sell orders between $8.126 and $7.728
Stop Loss: $8.4
Take Profit: $7.468
Order valid: 16 hours from publication
This trade has a HUGE profit potential if you play it correctly.
Wait for bearish divergence on the MACD and RSI, and 5 waves within orange wave 5 to form.
The zone to enter shorts is just a guide, and I will enter only 50% of my...
BINANCE
