ETCUSD hovering over crucial price ! Breakout Soon ?
ETC is hovering over the top of the retracement rally of 30th June and finding some resistance.
Break of this would take ETC to 130usd i.e the 0.702 retracement.
ETC current structure is quite similar to its entire bear market from 2018 that lead its way to $180.
In this structures,ETC sets a low ,retraces to 0.236 and falls down without setting a new low.
When ETC retraces back to 0.236 ,it really had to work hard on this area before the breakout.
But once it broke that level, there wasn't any real resistance after that.
So ETC may retrace to 0.702 after breaking the 66usd price/0.236 retracement level or it may follow its previous structure and head straight to its ATH.
NFA
Break of this would take ETC to 130usd i.e the 0.702 retracement.
ETC current structure is quite similar to its entire bear market from 2018 that lead its way to $180.
In this structures,ETC sets a low ,retraces to 0.236 and falls down without setting a new low.
When ETC retraces back to 0.236 ,it really had to work hard on this area before the breakout.
But once it broke that level, there wasn't any real resistance after that.
So ETC may retrace to 0.702 after breaking the 66usd price/0.236 retracement level or it may follow its previous structure and head straight to its ATH.
NFA
Related publications
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.