ETHEREUM CLASSIC (ETC-USDT)- LONG
Updated
Hello traders,
Here is a new analysis of Ethereum Classic(ETC-USDT) on the 8 hour chart. ETC has had an impressive rise recently.
Etherum Classic broke out on high volume above the old all time high. Therefore, this rise also seems to me to be sustainable for the longer term.
The RSI is currently at a very high level so it remains to be seen whether we will continue to rise immediately. Possibly we will get a negative divergence after which a correction will take place or the high level of the RSI will cause an earlier correction.
The targets for Ethereum Classic are now:
-> Target 1 88 USD
-> Target 2 127 USD
Support for ETC is now at 63, 55.50, 48.80. A very important support level is at 44.27. I remain bullish above this level but below it we can further correct to possibly the bottom of the rising trend channel. This is of course also a perfect Low Risk Reward buy after which you can calmly wait until the top of the channel is hit again.
The longer trend is up untill we are not in a rising trendchannel anymore. Very important is to determine your trading time frame! A trend on the 1 hour timeframe can be down while on the 8 hour time frame it is up.
The market is very volatile so good stops in strategic places are needed to protect profits.
Discalaimer: this is not a trading advice but purely my personal view on this fund.
Here is a new analysis of Ethereum Classic(ETC-USDT) on the 8 hour chart. ETC has had an impressive rise recently.
Etherum Classic broke out on high volume above the old all time high. Therefore, this rise also seems to me to be sustainable for the longer term.
The RSI is currently at a very high level so it remains to be seen whether we will continue to rise immediately. Possibly we will get a negative divergence after which a correction will take place or the high level of the RSI will cause an earlier correction.
The targets for Ethereum Classic are now:
-> Target 1 88 USD
-> Target 2 127 USD
Support for ETC is now at 63, 55.50, 48.80. A very important support level is at 44.27. I remain bullish above this level but below it we can further correct to possibly the bottom of the rising trend channel. This is of course also a perfect Low Risk Reward buy after which you can calmly wait until the top of the channel is hit again.
The longer trend is up untill we are not in a rising trendchannel anymore. Very important is to determine your trading time frame! A trend on the 1 hour timeframe can be down while on the 8 hour time frame it is up.
The market is very volatile so good stops in strategic places are needed to protect profits.
Discalaimer: this is not a trading advice but purely my personal view on this fund.
Note
Please note that this is a roadmap for the the nearby future. We see Etc moving in the trendchannel and that is clearly bullish. The coin is of course overheated and we can see that also in the huge volume spike. Often that means the top is set for a while but the good news is that it probably can be bought a lower levels.Buy low, sell high is excellent but of course only with these kind of coins. The wolume shows how much interested there is.
Note
We go parabolic now!Trade active
Traders, stunning as we have reached Target 1 at 88. Now on to the next target at 127. You can,if you want, protect your profits by possibly already selling a part. That profit is then already in your pocket! Just my thoughts, no advice!
Note
Note
Traders, look at the massive volume. That is what we want to see when price rise!Trade active
Hello traders,Anazing! We have reached 100 usd. Keep in mind that selling iyour assets n steps is always a good method to keep the profits save but that is of course completely personal and depends on your own tradingstyle and money management.
We have now had a 400% price increase since April 23! Up to the next target!
Note
IMPORTANT!Hello traders,
Please keep a close eye on Bitcoin's roadmap as it is hugely important for ALT COINS and the rest of the crypto market.
I have a link here to Bitcoin's Roadmap which I made so you can follow the situation.
We are still caught between Target 1 and Support 1 with Bitcoin. We'll have to wait and see how Bitcoin develops further but in the meantime this is good news for ALT coins. As long as BTC moves wonky the ALTS can continue to rise but always keep an eye on this chart to see exactly where we are! Trade safe and use always stops!
Please click on the chart to go to the link:
Note
Traders we are once again on the rise with ETC.My forecast is that we may hit the 2nd target of 127 by May 10 or before.
Place your stops, protect your profits.
This is not an opinion but purely my personal view on ETC and always do your own analysis!
Note
Traders, Target 2 reached at 127 USD!IT was even faster because I wrote befroe May 10th but we are here already
Secure some profits!
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