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๐Ÿ“ˆ Daily TA: Ethereum Classic (ETC/USD) | 18-10-2021

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cryptospa
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Hodl, dear members of LeoFinance!

Today, I would like to comment on the price chart of Ethereum Classic.

So, let us draw a line through the local lows of ETC/USD in the daily chart (1D): As can be seen from the chart, the line or the trend line is still heading upwards. This means that the uptrend remains in place.

However, if we have a look at the 4-hour chart (4H) of ETC/USD the situation is really very interesting. In July the price chart formed a Double Bottom (common bullish trend reversal pattern): But, after that, in September the price chart formed a Double Top (common bearish trend reversal pattern). And, now, the current price is between these two opposite trend reversal technical patterns. That's why it is still not 100% clear in which direction the price will continue its journey in the near future.

To be continued ...

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A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

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