ETC - Price Analysis
ETC price has retraced and begun to form a falling wedge / bull flag.
Stochastic RSI - Bottomed out and although there hasn't been a bull cross yet, I would recommend watching some of the smaller time frames to look for volume confirmation that would cause the signal line to crossover.
RVI - The relative volatility index indicates that price volatility has been driven down.
Kumo - Further confirms the lessened volatility as seen on the RVI
Tenkan/Kijun - Both have begun ranging which tells us that price momentum has begun decreasing
Due to the lessened volatility, oversold conditions, continuation chart pattern, I would expect to see the price break to the upside of the flag and possible extend to the .618 fib level near the 0.002510 price range.
However, if a tops break fails to occur, I would expect the price to find support above the .236 fib level at one of the two green support lines drawn.
Stochastic RSI - Bottomed out and although there hasn't been a bull cross yet, I would recommend watching some of the smaller time frames to look for volume confirmation that would cause the signal line to crossover.
RVI - The relative volatility index indicates that price volatility has been driven down.
Kumo - Further confirms the lessened volatility as seen on the RVI
Tenkan/Kijun - Both have begun ranging which tells us that price momentum has begun decreasing
Due to the lessened volatility, oversold conditions, continuation chart pattern, I would expect to see the price break to the upside of the flag and possible extend to the .618 fib level near the 0.002510 price range.
However, if a tops break fails to occur, I would expect the price to find support above the .236 fib level at one of the two green support lines drawn.
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