ETC/USD Medium-term Trend: Ranging

Supply levels: $5.50, $6.50, $7.50
Demand levels: $3.50, $2.50, $1.50

The ETC/USD market has been ranging around November 23 within the $5 and $4 price levels until now. Unlike a few days back, all the trading indicators are now also situated within the aforementioned market levels.

The crypto featured lower lows and lower highs in the ETC/USD trade a bit above the lower range boundary about two days ago. Today, the pair has only been basically witnessing an amount of lower highs underneath the 50-day SMA’s trend-line. The Bollinger Bands are found under the 50-day SMA. The Stochastic Oscillators are pointing north direction a bit below range 80.

Though the crypto seems to be regaining a momentum, it’s not yet obvious to suggest a bright stance for the return of a strong bullish trend.

On November 26 and 27 this week, the ETC/USD market witnessed a range move around $4.40 and the $4.20 marks. The upper range mark was eventually breached northward towards the last trading sessions on Nov. 27.

Today, the crypto-market firstly experienced a number of lower highs a bit above the 50-day SMA but the crypto has added a catalyst to visibly push northward along with the upper Bollinger Band. Both the 50-day SMA and the middle Bollinger band are now located around the $4.40 mark. The Stochastic Oscillators have moved into the overbought zone to seemingly consolidate within it.

The current bullish trend has found a pivotal point at $4.40 mark, and that could suggest an end of the current bullish trend if a correction is strongly made against it.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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