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Medium-term trend ETC / USD: variable
Offer levels: $ 5.50, $ 6.50, $ 7.50
Demand levels: $ 3.50, $ 2.50, $ 1.50
The ETC / USD market was trading around the same boundaries as last week's range. The high current value of the ETC / USD was reached on December 2 at around $ 5.28 on the chart.
The following day, it was characterized by low base minimums of the variant to the point of crossing south over the central Bollinger bands and the 50-day SMA and eventually touched the lower Bollinger band positioned a little. below the lower range point of $ 4.50. The Bollinger central band and the 50-day SMA are located within the interval since the former is on the latter. Stochastic oscillators have crossed the oversold zone to briefly point north to the 20 range.
This shows that the bulls are trying to organize a return to the market. But the $ 4.35 point should be cautious, as its break down could lead to a new low level around the $ 4 mark.
Short-term trend ETC / USD: bullish
In the short-term run, the ETC / USD market line in particular jumped north as it touched the $ 4.70 mark today. The market is currently negotiated around the upper Bollinger Band very close to the indicated level.
A few hours before today's trading sessions, cryptography was seen between $ 4.60 and $ 4.40 marks. The 50-day SMA is $ 4.80 above the Bollinger Bands. Stochastic oscillators gathered within the overbought zone to suggest a consolidation movement or a point towards a defined market direction.
As it may seem, the $ 4.40 seems to be the current rejection of the bearish movement, while $ 4.80 could be the bullish trend reversal line.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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