Several key points can be highlighted in the 4-hour chart analysis of #ETC to #USDT :
📊 $ETC price is currently trading above the local uptrend line, indicating a short-term bullish trend.
📊 The analysis identifies support levels at $15.44, followed by a support zone ranging from $15.19 to $14.98. At these levels, buyers can step in to prevent prices from falling further.
📊 On the other hand, resistance levels are noted at $15.65, $15.96, $16.20, as well as the resistance zone from $16.44 to $16.79. These levels are potential barriers that the price can overcome in its upward movement.
📊 The CHOP indicator is used to assess market volatility and momentum. It indicates that there is significant energy in the market that could lead to price movement.
📊 The STOCH indicator is near its upper limit, indicating a potential change in price direction. However, it also indicates that there is still room for the price to fall further.
Traders should consider these technical factors when making trading decisions. It is important to conduct thorough analysis and use appropriate risk management strategies, especially in the volatile cryptocurrency market.
