Trade Recommendation: Ethereum Classic

The price of Ethereum Classic passed through the cloud, giving us a trend reversal signal. DMI confirms trend market conditions, allowing us to open long trades. It’s a buy opportunity and we can trade based on a breakout signal above the local high. We have a bearish candle showing price reversal from the 12.50 level. If the market can break this resistance, it will give us an additional confirmation of further upward movement. Pending buy orders should be placed at the 12.60 level with stop orders at 11.45. Profit targets are the 14.00 and 16.00 levels.

If the market drops below the uptrend line and the cloud, we should delete buy orders and wait for a new trading opportunity. If you don’t use leverage, the recommended trading volume for this trade is up to 10% of your deposit.

Market: ETCUSD
Buy: 12.60
Stop: 11.45
Profit Targets: 14.00 and 16.00

The trading signal is based on Poloniex chart.

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.

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