#ETC update- bounce off the 88.6fib support. #crypto
#ETC is currently trading below the 20,50 & 100 DMA's.
However #etc bounced off the 88.6fib support around 14.48 level, with MACD showing bullish divergence & RSI in highly oversold region.
Taking wave c as 0.618 fib ext of wave a, c point coincides with the 88.6fib support.
If etc manages to break above 78.6 fib resistance at 15.8, then we can expect it to rally to 18 level :being the 61.8fib as well as the 20DMA resistance.
However #etc bounced off the 88.6fib support around 14.48 level, with MACD showing bullish divergence & RSI in highly oversold region.
Taking wave c as 0.618 fib ext of wave a, c point coincides with the 88.6fib support.
If etc manages to break above 78.6 fib resistance at 15.8, then we can expect it to rally to 18 level :being the 61.8fib as well as the 20DMA resistance.