ETC is testing 9.47, an important level both for bears and bulls. If we see a break below 9.47 support, our bearish scenario will be triggered. In that case 8.88 support is a likely target. On the other hand, if we see 9.47 support holding up and stochastic turning upwards then we will follow a bullish scenario, targeting 10.12 and 11 respectively.
Note
Previously we have mentioned the importance of 9.47 support level for our bearish scenario. This level was a trigger and in case of a break below of this level, our target was 8.88. Looking at the graph today we see that our target has already been hit. That was a nice move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.