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 ...
As of the time of writing, one STEEM costs $52,30 on the Binance crypto exchange, according to TradingView.
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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