"Classic" Oversold Ethereum Classic (ETCUSDT)

POLONIEX:ETCUSDT   Ethereum Classic / Tether USD
Hello again trading friends. I apologize I have been extremely busy in clinic and have not had the chance to dig into some fun technical analysis recently. I also usually don't like to comment too often, as it can drive myself and others mad with speculation. However, I have been eyeing ETCUSDT for a bit and my alarms went off as it plunged into the "oversold" zone. Let's diagnose this bad boy.

On the 4 hour chart, ETC is showing positive divergence(most clearly shown on RSI , but you can also make it out on the stoch ). Positive divergence is where the RSI is trending up while the price action is trending down. It is a classic sign that a reversal may be imminent because sellers are losing momentum. It's also important to match this up with historical supports/resistances as well:
-Support at ~21s
-Historical support dating back to even November 2017 at 19s... even lower at 14s
-Resistance at 28s(not only due to historical data, but also check the thick blue line which is the 200EMA)

For even further evidence that a reversal may be imminent, check the Daily chart:

See the RSI dipping its toe into "oversold"? See what happened last time it dared to take such a bold move? Price action reversed from around 14 all the way up to the mid 40s!!! Around a 300% increase! Look at the context of the RSI being oversold too: it was during a positive trend(pink EMA above blue EMA ). When a coin is oversold during a positive trend, a rebound will usually happen.

As a general rule though, don't rely on your RSI in the following scenarios: If it is above 80(overbought) during an uptrend. If the RSI is below 20(oversold) during a downtrend. This makes logical sense when you think about it. OF COURSE when there's an uptrend, the price action will . And I think it goes without saying, but don't ever rely on simply one indicator alone.

Let's see whether this reversal can take place, or if ETC will dip even farther to the 19s or 14s

Stay healthy folks <3

评论: So as we saw before, going down to the 14s was definitely a possibility... So here we are, almost reaching that level. But, interestingly enough we have positive divergence AGAIN haha:

So let's be clear here... positive divergence never guarantees a reversal, just makes it more likely. Another thing to note this time around is that MACD is getting closer to 0 as well, which in the last positive divergence it was absolutely in the dumps.

As usual... i'll keep you updated but until then... don't watch!

评论: also, apologies for the switchup to Ichimoku.. just like it a lot better. I'll post at a later date explaining it more.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出