Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
- ETC/USD market has risen notably, but now may soon be experiencing its subsequent movements in a range.
- A bearish re-emergence may occur during a strong reversal of the current swing uptrend.
ETC/USD Medium-term Trend: Bullish
- Supply levels: $5.2, $5.4, $5.6
- Demand levels: $3.7, $3.5, $3.3
The last 4-hour trading session on February 17, has turned the ETC/USD market trend to relatively experience more notable ups. The pair has risen from $4 mark to eventually touch $4.8 high point today.
In the recent past, the crypto price ranged significantly between $4.2 and $4 market levels. Both the Bollinger Middle Band and the 50-day SMA are a bit bent northward within the last range zones. Currently, price has been trading around $4.6 market line. The Stochastic Oscillators are now consolidating within the overbought zone.
The bulls are now in their market consolidation mode, and they may now be witnessing a line of price convergences around $4.8 and $4.6. In the wake of that, there is a tendency of this entering other range zones.
ETC/USD Short-term Trend: Bullish
There have been a significant price uptrend movements in the ETC/USD short-term market worth since the trading continues today. Yesterday, the crypto-market rose northward as well along the Bollinger Upper Band.
The market has been trading around the $4.8 and 44.6 price levels. The 50-day SMA is closely located a bit over the Bollinger Lower Band. The Stochastic Oscillators have crossed from the overbought zone to briefly point south a bit above range 60.
$4.8 mark has now been affirmed as a rejection point to the current ETC/USD uptrend force. Therefore, a strong reversal between that point and a bit over it could cause a bearish re-emergence in this crypto-trade.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.