Ethereum Classic ETC will rise again! first target 169 then 180!
Hello traders,
You see here a 30 minute chart of ETC Ethereum Classic. This is update from my previous analysis on ETC.
I see ETC moving back up towards our first target 1 of the previous analysis at 169. After that the all time high will come back into view at 180 USD.
Please note the inverted head and shoulder formation on this short timeframe!
Volume is currently still low but these coins like to retest old tops.
For the medium term, I remain bullish on Ethereum Classic. There is simply enormous interest in this coin and we can already see this from the massive volume seen during the rise.
Keep a close eye on the support levels and place stops to protect your capital.
Please keep in mind that the neckline of the inverted head and shoulders formation has been broken and will almost sure retest but then ETC is ready for the targets 169 and 180!
Happy trading!
This view of Ethereum Classic is purely my own opinion and absolutely no investment advice. Always do your own research before making a trade.
You see here a 30 minute chart of ETC Ethereum Classic. This is update from my previous analysis on ETC.
I see ETC moving back up towards our first target 1 of the previous analysis at 169. After that the all time high will come back into view at 180 USD.
Please note the inverted head and shoulder formation on this short timeframe!
Volume is currently still low but these coins like to retest old tops.
For the medium term, I remain bullish on Ethereum Classic. There is simply enormous interest in this coin and we can already see this from the massive volume seen during the rise.
Keep a close eye on the support levels and place stops to protect your capital.
Please keep in mind that the neckline of the inverted head and shoulders formation has been broken and will almost sure retest but then ETC is ready for the targets 169 and 180!
Happy trading!
This view of Ethereum Classic is purely my own opinion and absolutely no investment advice. Always do your own research before making a trade.
Comment:
Please check out my first analysis of Ethereum Classic here
Comment:
Hello traders,
Here an update for ETC Ethereum Classic.
ETC is in the middle of a correction which is perfectly normal after the explosion from the last days.
We have a couple of scenarios now.
1.We go sideways for now in a trading range between support 1 and support 4.
2 ETC breaks the support line 4 and we head towards 100 USD. Then a good time to take LONG positions seems to be between 95 and 100 USD with a stop at 87 USD.
Personally, I am going for the 95-100 level. The outlook for ETC is excellent and we have seen that with the volume.
With such a strong rise in recent days, it is perfectly normal that we see this correction because at some point demand dries up and you get selling pressure. Often noticeable by volume spikes.
Here an update for ETC Ethereum Classic.
ETC is in the middle of a correction which is perfectly normal after the explosion from the last days.
We have a couple of scenarios now.
1.We go sideways for now in a trading range between support 1 and support 4.
2 ETC breaks the support line 4 and we head towards 100 USD. Then a good time to take LONG positions seems to be between 95 and 100 USD with a stop at 87 USD.
Personally, I am going for the 95-100 level. The outlook for ETC is excellent and we have seen that with the volume.
With such a strong rise in recent days, it is perfectly normal that we see this correction because at some point demand dries up and you get selling pressure. Often noticeable by volume spikes.
Comment:
A small correction.
Ideal moment in my opinion to buy ETC would be between 103 and 97 ( not 100 and 95)
Keep a close eye on those levels! I think price will rise again.
Be sure to place stops and use money mangement always. Never risk more tan 1% of capital on a single trade! That is the most important aspect in trading!
Happy trading!
Ideal moment in my opinion to buy ETC would be between 103 and 97 ( not 100 and 95)
Keep a close eye on those levels! I think price will rise again.
Be sure to place stops and use money mangement always. Never risk more tan 1% of capital on a single trade! That is the most important aspect in trading!
Happy trading!
