Coin Calls: Ethereum Classic
Ethereum Classic on the recent addition to Coinbase pumped by almost 43%.
Whenever a coin pumps to such a high degree, we usually see a pull back.
ETC will be the same case.
As a result, Nouvive have identified an opportunity to long from the prescribed position – nicely shown in the green box that is a mixture of the previous positions ETC has revisited as well as the 0.786 Fib Line.
As can be seen by the chart below, the vast amount of buy and sell volumes are calling for the green box as an entry point. Illustrating that the market will bring the value of ETC to this level.
The RSI Stochastic is suggesting that on the 1D, a dump has to be called for roughly to the 90D Moving Average, which by that period of time, will be in the Green Box.
Enter buy 50%: $16
Enter buy 50%: $15.5
Take Profit 100%: $21.30
Profit: 27% – Move Stop Losses up whenever in profit
Stop Loss: $14.60
Time Line: 4 Weeks
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