Ethereum Classic fell below the Pivot Point at $9.87 on the 2hours chart. Possible scenarios:
First one, a breakdown will become false, the combination of the 61.8% Fibo level and the Pivot Point will protect the coin from further falling. In this case, we are waiting for the retest of $10 resistance and hold previously taken long positions.
Second scenario: If the price goes below current levels, the next stop will be at $9.50, where last week’s support is located and the level of 78.6% Fibo. Our long positions will remain profitable. Also it is an opportunity to make a short-term sell to $ 9.50.
On the daily chart, we see a strong expansion of the Keltner’s channel, a middle-term consolidation in $ 9.2 – $ 10 range is possible.
USDCHF is just in a couple of dozen points from resistance 1.0. Yesterday there was an “evening star” on the 1Day chart. On the other hand, the Caiman indicator is 17.27, close to 3-month lows.
If the next daily candle become bearish, we will sell USDCHF with the target at 0.9850.
So our targets for:
ETCUSD – is selling to $9.50 level
USDCHF – is selling to 0.9850 level