ETC Intersects Decrease Bollinger Band, Can the Market Push ETC Up?



Analytics


Ethereum Traditional (ETC) is down 2.25% within the final 24 hours, and as of press time, it’s buying and selling at $19.88, in keeping with CoinMarketCap. Because the starting of November, ETC has been experiencing a rollercoaster journey when it comes to value fluctuations.

Throughout November’s preliminary days, ETC fluctuated in a bearish rising wedge (pink define). After reaching $27.22 on November 6, the costs took fairly a drastic fall and landed at $17.72 in lower than three days. As depicted within the chart, the loss of life cross the place the 50-day MA crosses the 200-day MA can also be chargeable for the depth of the autumn.

Nevertheless, following the autumn, the worth of ETC was capable of achieve some momentum. After reaching $22.97 on November 10, the worth of ETC has been fluctuating in a bullish falling wedge (white outlined).

Notably, simply after the bullish falling wedge, costs barely elevated from roughly $18 to $20. Since that little spike that occurred on November 14, ETC has been transferring sideways within the $19 – $21 vary whereas regularly descending.

The worth of ETC, which was $19.61 on November 20, fell to $17.16 in lower than 24 hours. Nevertheless, for the reason that value of ETC touched the decrease Bollinger bands, the market corrected the costs. From that time onward, ETC has been fluctuating in a bearish flag.

In the meantime, the 200-day MA is parallel to the horizontal axis, denoting that the costs will transfer sideways. The 50-day MA has a bullish overview, as it’s barely tilting upwards.

Curiously, the Bollinger bands are converging, which signifies that ETC is displaying low volatility. Nevertheless, ETC, after touching the decrease band in the present day, appears to be rising because the markets appear to have corrected the oversold value.

ETC/USDT 1h Buying and selling Chart on TradingView

If the bears dominate the market, the worth of ETC could land on the help stage, which is positioned between $16.9 – $17.5. Contrastingly, if the bulls push arduous sufficient, the costs of ETC might hit the resistance stage primarily based on $22 – $23.

Disclaimer: The views and opinions, in addition to all the data shared on this value prediction, are printed in good religion. Readers should do their analysis and due diligence. Any motion taken by the reader is strictly at their very own threat. Coin Version and its associates won’t be held accountable for any direct or oblique injury or loss.




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