Trade Recommendation: Ethereum Classic

The price bounced from the support zone formed by SMA100 and 17.50 support level. RSI confirmed price reversal. MACD histogram supports upward movement. ADX line is going to reverse and it tells us that bears are not so strong now for pushing the price lower. We can join to possible upward movement using buy orders. Entry level is 18.30 with stop at 17.00 level. The main profit targets is 21.00 resistance level. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETCUSD
Buy: 18.30
Stop: 17.00
Profit Targets: 21.00

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Ethereum Classic.

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.