ETC Bouncing away from a support zone! Will ETC rise!?
So a few days ago ETC suddenly went up in price, you would have made a huge mistake if you bought it after the bull run. Congrats to people who have bought it before the bull run. But it’s still not too late to step in ETC.
As you can see on the chart, the price is retracing back to the origin of the movement, where you’ll find a support zone. Another thing that could indicate that ETC will bounce back from this support line, is because of Fibonacci retracement levels. As you can see the price is at the 61.8% Fibonacci retracement level, if the price bounce away from this level, it means that the uptrend is still intact.
There are multiple ways to enter, remember to always check the risk/reward ratio that suits you:
- Waiting until hits the 0.00149
- Or you may enter any time soon, but this a little bit riskier
My stop loss would be either:
- Or a close below the support zone (0.00148)
My targets are the yellow areas above
If you need any help with TA or explaining this, send me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!
As you can see on the chart, the price is retracing back to the origin of the movement, where you’ll find a support zone. Another thing that could indicate that ETC will bounce back from this support line, is because of Fibonacci retracement levels. As you can see the price is at the 61.8% Fibonacci retracement level, if the price bounce away from this level, it means that the uptrend is still intact.
There are multiple ways to enter, remember to always check the risk/reward ratio that suits you:
- Waiting until hits the 0.00149
- Or you may enter any time soon, but this a little bit riskier
My stop loss would be either:
- Or a close below the support zone (0.00148)
My targets are the yellow areas above
If you need any help with TA or explaining this, send me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!