Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries ETC/USDT technical analysis: forecasting a potential decline near resistance By: Invezz December 01, 2023 at 00:27 AM EST ETC/USDT trading strategyBuy/sell asset: Sell ETC/USDTEntry price: $19.40Stop loss: $20.11Leverage: 1xTake profit 1: $18.50Take profit 2: $17.60Take profit 3: $16.72Timeframe: 1-2 weeksMaximum profit: 13.81%Maximum loss: 3.66%ETC/USDT chart and technical analysisEthereum Classic is dropping after it made a new higher high around 21.8 level. Since then the price of ETC/USDT has dropped by 19% and will likely drop further in the coming weeks.Currently, the price is making correction and will possibly retest the 19.40 resistance level. I am considering this level for a sell entry and my target for this trade is 16.73 support level.Overall the market structure is now bearish, the price is making lower lows and the rally of the overall crypto market has slowed down. I am expecting further drops in the future.ETC/USDT fundamental analysisFundamentally, the overall trend in the crypto market is not very encouraging. Most of the crypto pairs are either dropping or ranging.Moreover, hackers stole about $363M in November, the worst month so far.Ethereum classic to Tether trade idea takeaways The price of ETC/USDT will possibly drop to the $16.74 support level in the coming days.The price will possibly reach the $19.40 resistance level before the drop.Multiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:3.7.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post ETC/USDT technical analysis: forecasting a potential decline near resistance appeared first on Invezz Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
ETC/USDT technical analysis: forecasting a potential decline near resistance By: Invezz December 01, 2023 at 00:27 AM EST ETC/USDT trading strategyBuy/sell asset: Sell ETC/USDTEntry price: $19.40Stop loss: $20.11Leverage: 1xTake profit 1: $18.50Take profit 2: $17.60Take profit 3: $16.72Timeframe: 1-2 weeksMaximum profit: 13.81%Maximum loss: 3.66%ETC/USDT chart and technical analysisEthereum Classic is dropping after it made a new higher high around 21.8 level. Since then the price of ETC/USDT has dropped by 19% and will likely drop further in the coming weeks.Currently, the price is making correction and will possibly retest the 19.40 resistance level. I am considering this level for a sell entry and my target for this trade is 16.73 support level.Overall the market structure is now bearish, the price is making lower lows and the rally of the overall crypto market has slowed down. I am expecting further drops in the future.ETC/USDT fundamental analysisFundamentally, the overall trend in the crypto market is not very encouraging. Most of the crypto pairs are either dropping or ranging.Moreover, hackers stole about $363M in November, the worst month so far.Ethereum classic to Tether trade idea takeaways The price of ETC/USDT will possibly drop to the $16.74 support level in the coming days.The price will possibly reach the $19.40 resistance level before the drop.Multiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:3.7.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post ETC/USDT technical analysis: forecasting a potential decline near resistance appeared first on Invezz
