syncopium
Panjang

etcbtc analysis with resistance and trend lines

BITFINEX:ETCBTC   Ethereum Classic / Bitcoin
ETC has been suffering from a lot lately. Callysto fork hasn't had any positive impact on the coin value but this might be due to whales playing with the market and of course due to the doubt period over bitcoin             leading almost every other altcoin to suffer.

ETC is still not showing any signs of recovery up until now, as long as it's sliding on the major bearish trendline. There are some resistance levels but we might, in the worst case scenario, see this drop until the crossing of the major bullish line but this is very unlikely as ETC is working hard on various implementations and is hiring some very interesting people, they're also solving most of the blockchain main issues.

With all of that said, it is still very risky to buy now, at least not until we see recovery over the red line, but definitely a very good coin to watch.
Komen: 1st assumption:
Bump on the 21703 resistance line and start it's ascension to 37137 line
Komen:
Komen: nb: in my updates, I modified the lower line as it wasn't aligned with the levels
Komen: For demonstration purposes only!!
Komen: It has reached the 217k line as expected on my first assumption. no it'w very well positioned for a breakout.
that looks really good for now
Komen: Be ready to take off if we break out if the coming hours
Komen: There we go:
Komen: BULL'S EYE!!!!
Komen: 24k Resistance line has now turned into support:
Komen: Bitcoin crash has affected all alt coins but don't lose faith on this one. We're still safe as long as we're on the airplane's aerial corridor
Komen: We've been forced to take another route due to all the aerial perturbations. Le'ts hope we won't need to do a forced landing.
As you can see, that's a very healthy retracement out there after its first trend up. We're taking a less steep angle but we're still on a good position stochastically and from MACD perspective. This might not be as easy as it looked at first but still a good chance to reach our targets.
Komen: We're back to the 88.7% retracement level which makes this ascension back to the predicted points very difficult.
If we don't see an uptrend bumping on our new corridor line (Cyan) then this prediction will be completely doomed and it will be announcing a long period of price stability around The 20$ / 25$ max


This chart remains good for checking the overall resistance/support lines
Komen: EOSUSD shows some alarming patterns :S Will we face a Head & Shoulders situation?
unlikely drop to 150k sat, so low
+1 Balas
syncopium supermaxpax3d
@supermaxpax3d, Exactly! I think that it will trend up from here on! Go ETC
Balas
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