2018-10-20 12:57 |
ETC/USD Long-term Trend: Bearish
Resistance levels: $14, $18, $22.
Support levels: $8, $6, $4.
The ETC/USD pair had been bearish in the month of October 2018. The cryptocurrency is also range bound between the levels of $9.5 and $ 10. On September 21, Ethereum Classic reach the high of $11.83 and began a downward trend. The crypto's price fell to the low of $9.03 and commenced a bullish movement. The price fell to the bottom or lower level of price range.
When a digital currency is range bound, we trade the lower and upper levels of price range. Traders should initiate long trades at the lower price level. Then a stop loss order should be placed below the $9 price level. You exit your long trades near the upper price level. Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
origin »Ethereum Classic (ETC) на Currencies.ru
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