- 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.
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