Do you believe in ETC for $11? Apparently, two months ago, most investors responded with a smile, “of course not.” However, after the trading week on 9 May, the situation on the ETC market has changed drastically. The main victory of sellers, which allowed a further price fall, is to take control of the $28 mark. It was during the trading week on 9 May, that sellers managed to strike a final blow on the limit orders of buyers and set a new local low. In three weeks of attempts by buyers to return the $28 range, trading volumes were low. The weekly candles did not frighten with their aggression and as a result, a new fall wave began. Source: https://www.tradingview.com/x/JABNPrRM/ In the weekly timeframe, we see new powerful ETC zones starting at around $11. It is near this mark that the global trend line of buyers, near which the ETC price has not been since December 2020. However, the main range from which ETC buyers are likely to have enough strength to start a new global growth wave is near $8. It is unclear whether sellers will have enough strength to push the price to this range. However, if we plan to invest in ETC, we would place limit orders in the range of $11 and in the range of $8. Technical analysis Of ETC On The Daily Timeframe Source: https://www.tradingview.com/x/XGBS1iAB/ Analyzing the movement of the ETC price on the daily timeframe, it is obvious that the trend lines of the fall wave from March 2022 are worki...
