ETC: Bears gradually gain an advantage, is there a chance for a rebound?
Market Analysis
ETC has recently experienced significant declines, and the overall trend has entered a correction phase. Currently, the market sentiment is quite bearish, with prices fluctuating at low levels, but a short-term rebound cannot be ruled out.
Support and Resistance Levels
• Support Level: $27.50, $26.80, $25.90
• Resistance Level: $29.50, $30.80, $32.00
Short-term Trading Strategy
Bullish Strategy:
• Entry Point: $27.80
• Add Position Point: $27.00
• Stop Loss Point: $25.80
• Take Profit Targets: $29.50, $30.80, $32.00
Bearish Strategy:
• Entry Point: $29.50
• Add Position Point: $30.80
• Stop Loss Point: $32.10
• Take Profit Targets: $27.80, $27.00, $26.80
My Prediction
Currently, bears are clearly dominant, and the market may further dip, leaning towards a bearish outlook in the short term. If the first support level is broken, prices may continue to decline, so caution is advised.
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