ETC / USD medium-term trend: bearish
Offer levels: $ 4.40, $ 4.60, $ 4.80
Demand levels: $ 3.20, $ 3, $ 2.80
On December 15th, the ETC market found a solid base while it saw a recovery around $ 3.50 close to the Bollinger Lower Band. The upward price movements continued until yesterday while it touched an offer level of $ 4.
A 4-hour chart showed the trend of bears going towards the trading sessions on December 17th. The price has now fallen to an average of SMA's 50-day trend line. The 50-day SMA is keeping a close position on the Bollinger Middle Band. Stochastic oscillators have crossed into the overbought zone to briefly indicate the south to the 80 range.
A convergence of Japanese candelabras occurred around $ 4 market levels; a likely sign that bears are now stronger on the market than bulls.
Short-term trend ETC / USD: variable
There have been far fewer minimums in the movements of ETC / USD prices today considering its movements in the short term. The market has been hovering around $ 3.80 as it lacks a driving force defined by both major engines.
As in the early trading hours of yesterday, some of the crypto-market movements have been closely tested under the 50-day SMA trendline. In the end, a sudden spike occurred and pushed north against the indicators to test around the $ 4.10 level. Bollinger Bands are above the 50-day SMA. Stochastic oscillators have just infiltrated the oversold zone.
A 50-day break at around $ 3.75 could lead you to revise the last minimum or a little over and beyond.
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