ETCUSDT Trading Idea

Let's try to spot possble price movements for Ethereum Classic based on the daily chart, Ichomoku indicator, support and resistance lines and levels. We can see that the market bounced from the uptrend line 1 and moved above the kumo. It was a signal that price could rise to the resistance level at least. A bearish candle, which can be considered as a correction movement on lower time frames, formed for us a new swing high. We can draw a downtrend line which must be broken for confirmation upward movement. Entry for long trades should be at 19.65 level which is above the downtrend line and the local swing high. Profit target for long trades must be at the resistance level for short term trading. You can also leave a part of trading volume for long term trading. Stop orders must be below 14.00 support level. Other variant of possible price movement can be the market falling to the uptrend line 1 and the support level. This zone is rather important because it can reverse the market and push it upward. But if the market breaks this zone, we'll see down movement to the uptrend line 2 and 8.00 support level. It will give us new trading opportunities. And don't forget one thing, all breakouts must be confirmed by ADX line moving above 20 level and confirming a strong price movement.