menuIcon
$ 87,876.8
BTC
$ 87,876.8
1.65 %
$ 2,065.32
ETH
$ 2,065.32
0.46 %
$ 0.7586
ADA
$ 0.7586
3.22 %
$ 632.76
BNB
$ 632.76
-1.37 %
$ 143.78
SOL
$ 143.78
3.09 %
Peter Oleshchuk
Feb 10, 2022
by Peter Oleshchuk

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

ETC

Table of contents

  1. ETC Technical Analysis On The Daily Timeframe
  2. The ETCBTC Price Is Just Beginning To Turn Up
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.

ETC

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

TradingView Chart

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 exactly $30 with a target of $46.

However, if the ETC price sharply tightens the range of $30, this may be a signal to the formation of a new fall wave. In this case, you should expect a breakthrough of this range and fixing the price below $30. This will signal of the price fall by $24. The probable final target in this scenario is $17. However, at the moment it is too early to talk about such terrible and deep targets.

The ETCBTC Price Is Just Beginning To Turn Up

TradingView Chart

The global price chart of the ETCBTC looks quite positive. In the weekly timeframe, we see that after a long fall wave, the rebound of the price begins. The minimum outlook for the ETCBTC price growth is at 0.0012 From the current price range of approximately 50%. Given this fact, a positive uncorrected ETC price movement scenario may work in the ETC market. But, such a scenario requires that the BTC price be able to control the $46,000 range without correction. Given the size of the curren BTC growth wave, the continuation of growth without correction to at least $42,000 is not very believable.

Follow us on: News
etc price analysis etc technical analysis ETC price ETC market ETCBTC ETC crypto
ETC Technical Analysis: The Main Problem For Buyers Is The $40 Mark
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.