Crypto Screener › Forums › Ethereum Classic (ETC) Forecast – Technical Analysis › Ethereum Classic (ETC) Technical Analysis – May 2018 › Reply To: Ethereum Classic (ETC) Technical Analysis – May 2018
Ethereum Classic in the news this week by diffusing their difficulty bomb, congrats ETC, lets take a look at the charts.
Etc recovery hit a bit of a flat line yesterday as volume petered out and momentum seems to be swinging back to the bears. This situation can give us two outcomes, a retest of previous support at around $14.50 – $14.80, consolidation above $15.50 for a possible bump and run play.
Support zones – $14 – $15
Resistance zones – $15.50 – $16
Big fan of the ol Bump n Run, I will be setting up some alerts to try catch it. Be sure to try and identify the price action before entering a trade here. Consolidation above the resistance zone would be a safer entry in my opinion.