ETC/USDT Technical Analysis: Testing Resistance with Bullish Signals
$ETC

Moving Average (MA) and VWAPThe 200-period MA is currently at $18.89, serving as a support level, which suggests a possible medium-term uptrend as the price is above this moving average.

The VWAP is at $19.33, aligning with the current price. This positioning indicates stabilization around this price level and suggests a neutral short-term outlook.Relative Strength Index (RSI)The RSI is at 63.02, indicating bullish momentum but nearing the overbought zone. If it crosses above 70, it could signal potential exhaustion in the rally, indicating a possible pullback.

Moving Average Convergence Divergence (MACD)The MACD line is currently above the signal line, with a positive histogram, reinforcing a bullish trend. If this continues with increased volume, the uptrend may sustain.

Cluster Analysis and Support/Resistance LevelsThere is a strong support zone between $18.00 - $18.50, reinforced by multiple clusters, suggesting a solid buyer interest at these levels.

The immediate resistance zone is between $19.50 - $20.00. A breakout above this zone with substantial volume could pave the way for further upward movement.Bullish ScenarioA breakout above $19.50 could drive the price towards the next target at $21.00 - $21.50.

Sustaining trading above the 200 MA and VWAP will reinforce the medium-term bullish outlook.Bearish ScenarioIf ETC/USDT fails to maintain above the VWAP and 200 MA, a decline towards the $18.00 support zone could follow. A break below this level may lead to increased downside risk.

Disclaimer

This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research and consult with a qualified financial advisor before making any investment decisions.