ETC 1D Global Picture: Where to Sell and Where to Buy

31 мая 2021 г.

Your attention is the global picture on the ETCUSDT chart
At the end of last month, the Ethereum Classic price made a good x6 rally in less than two weeks, after which a correction phase began.
Later, the corrective fall accelerated the fall of the entire crypto market.

But there is also a positive point.
The fall was aggressively bought out from the $40-50 zone, and this is essentially the absolute maximum in 2018, which could not be updated for 3 years.
On daily candles, the ransom formed large shadows from below, and the candlestick bodies closed above the $47 level, testing the liquidity zone for strength.

This alignment of events gives hope that the price of ETCUSD may rise again to the price range of $115-125.
In this area, you should cover the longs and look around.
Since further there can be two scenarios:
1) Fixing the ETC price above $115-125 will give a chance to think about the next global target in the $260 area.
2) If the negative background continues to dominate on the crypto market, then it will be possible to place buckets for purchases in the $20-30 zone, because this is the next liquid zone, which is below $50.
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