Will ETC break out from the upper resistance?
Hello everyone, let's look at the current ETC situation considering the one-day interval. In this situation, we can see how the price moved dynamically out of the local downtrend line, giving rise to a large upward move.
Currently, we can see the price approaching a strong resistance point at $34.50, the next resistance should be at the level of recent increases at $39.65, only when the price goes up, it will move towards $54.
Now let's move on to the stop-loss in case the price wants to turn back, and here there is support at the level of $28.40, then the price may quickly return to the level of $24, and only further we may have a strong drop to the support level of $19.
Looking at the RSI indicator, you can see that each rebound of the indicator gives new energy for a quick upward movement, which is worth keeping in mind until the BTC price starts making larger movements, increasing its dominance over the market.
Currently, we can see the price approaching a strong resistance point at $34.50, the next resistance should be at the level of recent increases at $39.65, only when the price goes up, it will move towards $54.
Now let's move on to the stop-loss in case the price wants to turn back, and here there is support at the level of $28.40, then the price may quickly return to the level of $24, and only further we may have a strong drop to the support level of $19.
Looking at the RSI indicator, you can see that each rebound of the indicator gives new energy for a quick upward movement, which is worth keeping in mind until the BTC price starts making larger movements, increasing its dominance over the market.
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