Yello Paradisers! Are we about to witness #EthereumClassic finally escape this downtrend channel, or another trap lies ahead? Let's break down the #ETC setup before the trap springs:
💎#ETCUSDT has been grinding inside a clear descending channel in the 4-hour timeframe and bouncing consistently between its descending resistance and support. Price is now pushing right against the top of this channel, and this pressure is building. Any clean breakout from here will be a strong bullish signal, especially with the 50EMA lining up perfectly to act as dynamic support if the move confirms.
💎The current support zone around $17.58 has already shown buyer interest recently. A bounce from here and a breakout above the descending resistance would trigger upside momentum, with the first key test being the moderate resistance at $20.54.
💎Once #ETCUSD breaks that, we’re eyeing the final strong resistance around $22.54 — a level where smart money is likely preparing to take profits. You need to watch the volume to confirm the breakout and retest constantly.
💎However, a failure to break out, or worse, a breakdown below the strong demand zone at $16.17, would completely invalidate the bullish scenario. This area is the last line of defense. If it collapses, the next leg down could accelerate fast, triggering a deeper correction and taking out over-leveraged long positions in the process.
Strive for consistency, wait for clear confirmations, and remember that discipline always beats chasing quick profits.
MyCryptoParadise
iFeel the success🌴
💎#ETCUSDT has been grinding inside a clear descending channel in the 4-hour timeframe and bouncing consistently between its descending resistance and support. Price is now pushing right against the top of this channel, and this pressure is building. Any clean breakout from here will be a strong bullish signal, especially with the 50EMA lining up perfectly to act as dynamic support if the move confirms.
💎The current support zone around $17.58 has already shown buyer interest recently. A bounce from here and a breakout above the descending resistance would trigger upside momentum, with the first key test being the moderate resistance at $20.54.
💎Once #ETCUSD breaks that, we’re eyeing the final strong resistance around $22.54 — a level where smart money is likely preparing to take profits. You need to watch the volume to confirm the breakout and retest constantly.
💎However, a failure to break out, or worse, a breakdown below the strong demand zone at $16.17, would completely invalidate the bullish scenario. This area is the last line of defense. If it collapses, the next leg down could accelerate fast, triggering a deeper correction and taking out over-leveraged long positions in the process.
Strive for consistency, wait for clear confirmations, and remember that discipline always beats chasing quick profits.
MyCryptoParadise
iFeel the success🌴
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🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.