#ETC/USDT The price is moving within an ascending channel

#ETC

The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards breaking it. A retest of this boundary is expected.

The Relative Strength Index (RSI) is showing a downward trend, moving in a downtrend and likely to continue due to overbought conditions.

There is a key resistance zone in green at 8.00. The price has bounced off this zone several times, making it a strong support level.

A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.

Entry Price: 8.38
First Target: 8.58
Second Target: 8.83
Third Target: 9.13

Stop Loss: At the resistance zone in green.

Remember this simple thing: Money Management.

For any questions, please leave a comment.

Thank you.