- The ETC chart shows the 50 and 100-day EMA could give a bearish crossover
- The ETC/BTC pair trades at 0.00112 BTC with a gain of 5.65%
- The 24 hr volume for ETC coins is $1.27 Billion
The ETC coin displays a double bottom type pattern in the daily time frame chart, trying to obtain strong support from the $44.37 mark. The coin price is currently trying to break out from this pattern’s neckline of the $54 mark. However, the Crypto traders must wait for the price to close above this level before entering the coin market.
Concerning the EMAs: The ETC price has reclaimed the 200 EMA line indicating the coin maintains its bullish tendency. However, the chart also shows the 50 and 100 are providing strong resistance to the price and are also on the verge of giving a bearish crossover.
The RSI value is at 51, indicating a slightly bullish sentiment within ETC coins.
The ETC Coin In The 4hr Time Frame Chart
In this lower time frame, the ETC coin chart shows the price struggling to cross above the $54 mark, displayed by a few higher price rejection candles. Moreover, as the overall sentiment for this coin is still bearish, the crypto traders will require more confirmation for taking a long trade. The ETC coin is currently trading at $53.9 with an intraday gain of 3.85%.
Moreover, the ETC trades can plot the traditional pivot level in their chart, which shows remarkable confluence with the significant SR level of this chart, providing more confirmation in one’s trading.
The moving average convergence/divergence(MACD) indicator shows the MACD and signal lines have just moved above the neutral zone (0.00), indicating the bullish sentiment in the coin.
Conclusion: After a long time, the ETC coin chart indicates a bullish opportunity for traders looking to get long trades in this coin. However, as mentioned above, taking a trade against the current trade would be pretty risky, and these traders have to enter with proper risk management once the price gives a decisive breakout from the $54 level.