We will look at Ethereum Classic here from a technical analysis point of view and discuss two different scenarios based on the descending triangle pattern.
The bullish scenario:
Let's look at the upper line of resistance here. If ETC can break through the upper resistance line of the triangle, we can expect a very bullish continuation of the price. Don't place your long order before it breaks through the line completely as the triangle can push the price down again near this area.
The bearish scenario:
The second important area is the trendline. If ETC can break through the lower trendline of the triangle, we can expect a bearish continuation of the price. Don't place your shorts before it breaks through the line completely as the triangle can push the price up again near this area.
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The bullish scenario:
Let's look at the upper line of resistance here. If ETC can break through the upper resistance line of the triangle, we can expect a very bullish continuation of the price. Don't place your long order before it breaks through the line completely as the triangle can push the price down again near this area.
The bearish scenario:
The second important area is the trendline. If ETC can break through the lower trendline of the triangle, we can expect a bearish continuation of the price. Don't place your shorts before it breaks through the line completely as the triangle can push the price up again near this area.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
Highlighted recent success story:
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Free crypto scanner on Telegram (35k members):
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.