Cryptoknowmics
2022-02-10 11:00:35

ETC Technical Analysis: The Main Problem For Buyers Is The $40 Mark

If you are looking for positive altcoins, which were able to organize a good rebound after the January fall – the first of them is ETC. Despite the fact that this cryptocurrency is quite old and may not be interesting to anyone, over the past 3 weeks it has grown by 50%. The ETC price is approaching an important liquidity level of $40. https://www.tradingview.com/x/KuJazHKG/ In the weekly timeframe, we see that this level has restrained all the blows of sellers since May 2021. Therefore, the second control of buyers over the $40 mark is a serious global loss. Until the ETC price fix above this mark on the weekly timeframe, we cannot speak of a confident continuation of the growth trend. In addition, analyzing the trading volumes, we see that serious purchases from buyers have not yet been observed. Thus, a slight rebound of the ETC price can just as easily change in the opposite direction. To continue the current local growth wave, buyers can not be given control over the mark of $30. ETC Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/PVkxiwuw/ Analyzing the movement of the ETC price on the daily timeframe, you can see an increase in trading volumes after the breakdown of the $30 mark. It is at this point that buyers began to actively slow down the downward trend and create problems for sellers. Therefore, if the ETC local growth wave is incomplete, it would be good to buy this cryptocurrency for exact...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer