ETC looks poised to make a next leg up.
Green Box (Long term support/resistance): After breaking through a major support level with solid local volume we are now retesting that level, likely to turn it to resistance.
Ichimoku: The Kijun and Tenkan have both been tested (price has currently dipped barely above them) and they both reside in this major support box likely turning resistance.
Fib: The 0.5 is a healthy retrace level and that is currently where price sits and it is also where the Tenkan and Kijun sit. Very strong support area here along with being in the long-term channel of support for ETC (green box).
RSI: We see a hidden bullish divergence which is a continuation pattern of an uptrend. We have been in an uptrend on ETC since about the .0023 SAT level and right now price is making a higher low however the RSI is making a lower low. This is a hidden bullish divergence which is a continuation divergence of an uptrend.
Confluence occurring and I have added to my ETC bag here in this green zone in order to prepare for the next leg up.
Next Target: Around the .0046 level where there is a strong resistance would be the next likely area we see ETC land before cooling a bit.
Thanks!
Green Box (Long term support/resistance): After breaking through a major support level with solid local volume we are now retesting that level, likely to turn it to resistance.
Ichimoku: The Kijun and Tenkan have both been tested (price has currently dipped barely above them) and they both reside in this major support box likely turning resistance.
Fib: The 0.5 is a healthy retrace level and that is currently where price sits and it is also where the Tenkan and Kijun sit. Very strong support area here along with being in the long-term channel of support for ETC (green box).
RSI: We see a hidden bullish divergence which is a continuation pattern of an uptrend. We have been in an uptrend on ETC since about the .0023 SAT level and right now price is making a higher low however the RSI is making a lower low. This is a hidden bullish divergence which is a continuation divergence of an uptrend.
Confluence occurring and I have added to my ETC bag here in this green zone in order to prepare for the next leg up.
Next Target: Around the .0046 level where there is a strong resistance would be the next likely area we see ETC land before cooling a bit.
Thanks!