ETC Technical Analysis Feb 1

ETC is trading at the 9.84$ level with a 4.65% drop in the last 24 hours and is experiencing a critical turning point in the oversold zone with RSI at 27.31. Both the bullish scenario with a bottom formation and the downside risk with support breakdown are equally possible, a point that traders should watch carefully.

Current Market Situation

ETC is trading at the 9.84$ level and experienced a 4.65% drop in the last 24 hours. The daily range was between 9.01$ – 10.34$, while trading volume fell to 107.74 million dollars. The overall trend is downward; the price remains below EMA20 (11.37$) and the Supertrend indicator is giving a bearish signal, with resistance clearly forming at 11.65$. RSI at 27.31 carries bounce potential in the oversold zone, while MACD confirms bearish momentum with a negative histogram. In multi-timeframe (MTF) analysis, 8 strong levels were identified across 1D, 3D, and 1W charts: 2 supports/2 resistances on 1D, 1 support/2 resistances on 3D, 1 support/2 resistances on 1W. Critical supports are 9.01$ (score 73/100) and 9.768$ (64/100); resistances are 10.134$ (70/100) and 11.12$ (61/100). This structure offers traders opportunities to prepare for both short-term recovery and continuation of the downtrend.

Scenario 1: Bullish Scenario

How Does This Scenario Unfold?

For the bullish scenario, a clear break and close above the 10.134$ resistance is required first; this signals a short-term momentum shift. Then, a move toward 11.12$ and Supertrend resistance at 11.65$ is expected with increased volume. RSI moving above 30 and MACD histogram approaching zero would serve as confirmation signals. In MTF, bullish divergence formation on 1D and 3D charts (if price makes a new low but RSI makes a higher low) could be a trigger. Stabilization or slight recovery in BTC would also support ETC. This scenario’s invalidation: It becomes invalid if the 9.01$ support breaks, as this would strengthen short positions.

Target Levels

First target is 11.12$ (score 61/100), followed by the 11.65$ Supertrend level. With strong volume, the next target becomes 13.52$ (score 35/100); this level is a significant Fibonacci extension point on the 1W timeframe. The risk/reward ratio from current levels becomes attractive at around 1:2.5. Traders can manage positions with a trailing stop after the 10.134$ breakout.

Scenario 2: Bearish Scenario

Risk Factors

The bearish scenario is triggered by a high-volume break of the 9.01$ support (score 73/100); this confirms continuation of the downtrend and accelerates panic selling. MACD going deeper into negative territory, RSI approaching 20, and volume increasing on the support break are risk factors. In MTF, testing additional supports (9.768$) on 3D and 1W timeframes reinforces bearish momentum. Weakness in BTC (77,814$ breakdown) creates a chain reaction in altcoins. This scenario’s invalidation: It becomes invalid with a close above 10.134$, opening the door for upside.

Protection Levels

First protection level is 9.768$ (score 64/100), with the next drop below 9.01$ on a break. Main target is 6.3281$ (score 22/100), which is the lower band of the 1W downtrend channel. For short positions, a stop-loss at 10.134$ is recommended; the risk/reward ratio approaches 1:3. Be cautious against low RSI bounces.

Which Scenario to Watch?

Main trigger to watch for bullish: Daily close above 10.134$ + volume increase + RSI above 30. For bearish: Close below 9.01$ + absence of MACD divergence. BTC movements are critical in both scenarios; if BTC fails to break 78,680$ resistance, pressure on altcoins increases. Wait for 4H candle closes for confirmation, and be cautious against fakeouts. Support with additional data from ETC Spot Analysis and ETC Futures Analysis pages.

Bitcoin Correlation

ETC shows high correlation with BTC (around 0.85); BTC is in a downtrend with a 5.28% drop from the 78,813$ level and Supertrend giving a bearish signal. BTC supports at 77,814$, 75,720$, and 64,655$ are critical; a break of any accelerates sharp downside in ETC (target 6.32$). Conversely, if BTC breaks above 78,680$ or 80,727$ resistances, ETC upside (13.52$) is triggered. Rising BTC Dominance creates pressure against altcoins; traders should prioritize watching BTC 77,814$ breakdown.

Conclusion and Monitoring Notes

ETC is currently in an unstable structure; oversold RSI bounce for upside or support breakdown for downside are equally likely. Monitoring points: 10.134$/9.01$ breaks, volume spikes, RSI/MACD divergences, and BTC 78k levels. Traders should be prepared for both scenarios and manage risk with stop-losses. This analysis is for educational purposes to help you make your own decisions; it may be affected by market volatility. Follow ETC spot and futures pages for current data.