ETC Trying Reversal Neckline at 16.8

Just like its counterparts BCH, IOTA and EOS, ETC is trying for a trend reversal as seen on the hourly and 4-hour chart while BTC is heading for the bull flag. Presently, the neckline is at 16.8 with 4H 12 EMA as support as 26 plays the role of resistance. Such bullish break may signal an uptrend potential.

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Ethereum (ETH)
$286.76
0.5%

However, any break of the neckline will have to see a concurrent break of BTC. If not, it will be a fake out.
When you consider IOTA/BTC, they have to stay above the crucial .25 resistance area of the past.
If it is not possible to break the upside, then we may be looking at previous lows and will attempt to form a new higher low as opposed to $12. For investors who may want to play bullish, do not forget that we are in a highly bearish terrain with the established BTC. Any potential plays must be completed secured and conservative to protect your funds.

ETC price analysis

ETC is doing well on the 5mm timeframe. However, this has changed and become a bit messy. On the 4-hour timeframe, it bounced off 200 MA support. It is also ready to continue the Bull Run. It looks completely different on a lower timeframe, like it will dump but it is not going to.
We project a price action in a short period based on the recent performance. However, this is simply a wild guess.
The important thing here is to create a safe entry point and then take profit with the lowest possible risk.
If bitcoin 0.77% -0.94% becomes super bullish, we could hold the trade for a longer period. From the chart, a rise to $20 is hinted, but we cannot vouch for it at this time.


SEE ALSO:   Keep An Eye On Ripple (XRP) From SEC About Whether XRP Is A Security Or Not - Thu Aug 16

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.