I invite you to review the ETC to USDT chart. First, we will mark the downward trend lines with a yellow line, below which the price moves. As you can see, the exit from this line was not maintained. At this point, the blue ema crosses the 200 line, which pushed the price back into a downtrend.
Moving forward, we can move on to marking out areas of support as we begin a larger correction. And here we have a visible support zone from $15.36 to $14.92, then we have support at $14.30, and then support at $13.50.
Looking the other way, we see that the price has fallen through the resistance zone from $15.81 to $16.41, then we have resistance at $16.60, and then resistance at $17.21.
Please look at the CHOP index, which indicates that the energy of the downward movement has been exhausted, the RSI is recovering but there is room for the price to fall, while the STOCH index has also rebounded but there is still room to fall.
Moving forward, we can move on to marking out areas of support as we begin a larger correction. And here we have a visible support zone from $15.36 to $14.92, then we have support at $14.30, and then support at $13.50.
Looking the other way, we see that the price has fallen through the resistance zone from $15.81 to $16.41, then we have resistance at $16.60, and then resistance at $17.21.
Please look at the CHOP index, which indicates that the energy of the downward movement has been exhausted, the RSI is recovering but there is room for the price to fall, while the STOCH index has also rebounded but there is still room to fall.