ETC Technical Analysis: Support deh for $8.20, Main resistance na $8.46
ETC dey trade around $8.20 and e still dey trapped under one daily downtrend. Di latest ETC technical read show say di downside momentum dey weaken: RSI near neutral (~44.7) and di MACD histogram dey suggest bullish divergence. But di broader bias still cautious because price dey below key EMAs, including di 20-day EMA near ~$8.44.
Key levels for ETC: strongest support de around $7.87, with near-term base near $8.14. If price break down below $8.14—and especially $7.87—it fit trigger quick move toward ~$7.15. On di upside, resistance dey close to ~$8.21, with di next upside target near ~$8.46; higher reference resistance dey around di Supertrend level near ~$9.50.
Risk/reward outlook: downside risk heavy unless ETC fit reclaim ~$8.46 with stronger volume. Di article still yarn say correlation between ETC and BTC high (~0.85+). If BTC break down, ETC likely go face renewed pressure; if BTC reclaim resistance, ETC fit improve toward di ~$9.50 area.
Traders’ focus: watch for support breaks (especially $8.14 and $7.87), manage leverage careful, and use BTC direction and volume confirmation to avoid make dem get trapped in volatility.
Neutral
Both articles agree say ETC chart still structurally bearish because e remain under key EMAs and the wider daily downtrend. The newer update add small timing nuance: RSI dey closer to neutral and the MACD histogram/bullish divergence dey show say downside momentum dey weaken, which increase chances for short-term relief bounce.
Still, the levels dey decisive. ETC fit only improve if e fit hold $8.14 and, more importantly, reclaim about $8.46 with confirmation. If e break down under $8.14 and especially $7.87 e go likely accelerate selling toward about $7.15. Correlation with BTC (~0.85+) still support neutral-to-cautious stance: ETC next move likely dey dictated by BTC ability to hold or reclaim im own supports/resistances.
Net impact on ETC itself: expect choppy, range-to-down behaviour short-term unless $8.46 reclaim; longer-term upside need restore EMA structure and follow-through volume.