Ethereum Classic is coming out of a long consolidation period and is ready to start a new market cycle.
It has recently hit a double bottom (reversal) which is a bullish indicator and indicates a change in trend. The downward trend that has been taking place the last few months is ending. The first trough was 0.00141172 and the peak was 0.0031795 and the second trough was 0.00137853.
The volume is accumulating which is a good indicator that we are going to break through this second trough.
There is going to be strong resistance at 0.00320000. If we break this point the double bottom reversal will be complete and we will be well on our way to our targets.
There has been an upward cross on the MACD which is bullish and indicates we will have some upward momentum.
Buy in: 0.00230000 - 0.00280000
Stop-loss: 0.00210000
Targets:
1 - 0.00330000
2 - 0.0048800 (may be some resistance and pushback here, may want to take some profit and reload)
3 - 0.00571500
4 - 0.00686000
5 - 0.00835000 (another point that will see resistance, take profit)
6 - 0.00952600 (new high)
If the double bottom reversal is not broken at the point of 0.0032 this trade will not materialize yet. At that point you can decide to be patient or move capital elsewhere.
Happy Trading.
D
It has recently hit a double bottom (reversal) which is a bullish indicator and indicates a change in trend. The downward trend that has been taking place the last few months is ending. The first trough was 0.00141172 and the peak was 0.0031795 and the second trough was 0.00137853.
The volume is accumulating which is a good indicator that we are going to break through this second trough.
There is going to be strong resistance at 0.00320000. If we break this point the double bottom reversal will be complete and we will be well on our way to our targets.
There has been an upward cross on the MACD which is bullish and indicates we will have some upward momentum.
Buy in: 0.00230000 - 0.00280000
Stop-loss: 0.00210000
Targets:
1 - 0.00330000
2 - 0.0048800 (may be some resistance and pushback here, may want to take some profit and reload)
3 - 0.00571500
4 - 0.00686000
5 - 0.00835000 (another point that will see resistance, take profit)
6 - 0.00952600 (new high)
If the double bottom reversal is not broken at the point of 0.0032 this trade will not materialize yet. At that point you can decide to be patient or move capital elsewhere.
Happy Trading.
D
交易开始:
Upward momentum
评论:
Target 1 (0.00330000) Reached Jan. 13
评论:
This is going to be one of the best gainers in February. Have patience and let it develop. We are still on track.