ETC New Target Will Be $36 Per-Share/Formed Ascending Triangle
Hey everyone, today i'm going analysis ETC/USDT pair, on the daily time frame let's begin...
1)On daily time frame we can see Ascending Triangle formation is going on,so price is squeezed into Ascending Triangle after we finally breakout from Triangle, so there is higher chance we will breakout to the upside, because Ascending Triangle is bullish pattern.
2)We can see we have Diagonal DowntrendLine at $20.5 per-share, so wen we breakout from this DowntredLine at $25.5 and ETC will gets some momentum and next Resistance will be from Ascending Traingle at $24 per-share,if price can breakout from $24 price zone, ETC target will be $36 per-share, that's the main target on this analysis.
3)We have strong Diagonal Support zone and price reacted 3 times already, so after three touch was made on Diagonal Support zone price will must move fast enough,so we can clearly see price was moved fast enough to the upward trend,after 3 touch on Diagonal Support, so price ETC getting more straight, its mean we going to do HIGHER - HIGH and HIGHER - LOW.
4)We are using also EMA RIBBON indicator on this analysis, If price is above EMA RIBBON, its mean good signal for we can moving into upward trend for coming weeks.
5)RSI indicator perfectly was boncued from oversold zone at 30, RSI is breakout from Downtrend Line , so RSI getting more strong, it's also good sign for price gets some momentum and RSI will move to the upward.
1)On daily time frame we can see Ascending Triangle formation is going on,so price is squeezed into Ascending Triangle after we finally breakout from Triangle, so there is higher chance we will breakout to the upside, because Ascending Triangle is bullish pattern.
2)We can see we have Diagonal DowntrendLine at $20.5 per-share, so wen we breakout from this DowntredLine at $25.5 and ETC will gets some momentum and next Resistance will be from Ascending Traingle at $24 per-share,if price can breakout from $24 price zone, ETC target will be $36 per-share, that's the main target on this analysis.
3)We have strong Diagonal Support zone and price reacted 3 times already, so after three touch was made on Diagonal Support zone price will must move fast enough,so we can clearly see price was moved fast enough to the upward trend,after 3 touch on Diagonal Support, so price ETC getting more straight, its mean we going to do HIGHER - HIGH and HIGHER - LOW.
4)We are using also EMA RIBBON indicator on this analysis, If price is above EMA RIBBON, its mean good signal for we can moving into upward trend for coming weeks.
5)RSI indicator perfectly was boncued from oversold zone at 30, RSI is breakout from Downtrend Line , so RSI getting more strong, it's also good sign for price gets some momentum and RSI will move to the upward.