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ETC/USD daily chart

  • ETC/USD market opened at $4.89 this Friday.
  • The bulls have taken control of the market four days in a row.
  • Immediate resistance lies at $5.
  • The price is trending above both the 20-day simple moving average (SMA 20) and SMA 50 curves.

ETC/USD 4-hour chart

  • The 4-hour ETC/USD market is consolidating in a flag formation and is ready for a breakout.
  • There was a notable crash four sessions ago, however, the bullish sentiment is so high, that not only did the market recover, but the Elliot wave remained in the bullish territory.
  • According to the moving average convergence/divergence (MACD) histogram, the market momentum remains bullish.

ETC/USD hourly chart

  • The ETC/USD hourly chart shows that there have been multiple times when the bears tried to take control of the market. There is a very notable flash crash as well.
  • Each time, the bulls were able to thwart the bears and keep the overall sentiment bullish.
  • The relative strength index (RSI) curve is trending between the neutral and overbought zone.

Key Levels

  • Resistance3: $5.4136
  • Resistance 2: $5.1866
  • Resistance 1: $5.0014
  • Pivot Point: $4.7744
  • Support 1: $4.5892
  • Support 2: $4.3622
  • Support 3: $4.1770