Price and Trend Overview
The current price of ETC/USDT is $25.50, showing a strong increase of +7.78% for the day.
The price has decisively broken above the 200-period Moving Average (MA) at $19.77, suggesting a continuation of the bullish trend in the medium term.
Key Support and Resistance Levels
Resistance Levels:
Immediate Resistance: Located at $28.00-$28.50, a critical zone for further upward momentum.
Secondary Resistance: If breached, the next target lies near $32.00, a psychological level and historical resistance.
Support Levels:
Primary Support: Found at $22.50-$23.00, aligning with the recent breakout zone and the 200-period MA.
Secondary Support: Broader support lies at $19.50-$20.00, where strong buyer interest was observed previously.
Momentum and Volume Insights
RSI (Relative Strength Index):
At 70.94, RSI has entered the overbought zone, indicating strong bullish momentum but cautioning potential short-term pullbacks.
MACD (Moving Average Convergence Divergence):
MACD shows significant bullish divergence with a wide histogram, reflecting strengthening upward momentum.
Volume:
Volume is at 732.75K, confirming the strong breakout. Sustained volume will be critical for further upward movement.
Market Outlook
Bullish Scenario: If the price maintains above $25.00, a retest of the $28.00-$28.50 resistance is likely, with further potential to reach $32.00 if buying pressure persists.
Pullback Scenario: Failure to sustain above $25.00 may lead to a pullback toward $22.50-$23.00, where buyers are expected to re-enter.
Conclusion
ETC/USDT shows strong bullish momentum after breaking above the 200-period MA and clearing resistance zones. Key resistance lies at $28.00-$28.50, with potential to reach $32.00. Traders should monitor RSI and volume for signs of continued momentum or a potential pullback.
