How to use an event for trading with Ethereum Classic (etc)
Ethereum Classic, also known as etc., is a cryptomena created by the community after the original division of bitcoins. While many investors were attracted to bitcoins, others were engaged in etc. Due to its unique features and benefits. One way to trade, etc. With the use of prices is technical analysis and trend according to strategies. In this article we will examine how to use price steps to trade with Ethereum Classic.
Understanding the price action
Price actions refer to the movement of the price of cryptocurrencies over time, influenced by various market factors such as supply and demand, sentiment and volume of trading. Technical analysts study these formulas and trends in order to identify potential business opportunities. In the ETC context, the price event can help traders understand the market dynamics and make informed decisions.
Key characteristics, etc.
Before we immerse ourselves in the use of pricing for trading, etc., it is essential to familiarize yourself with its key characteristics:
* Name token: Ethereum Classic (etc)
* block time: 15 minutes
* transaction fee: 1.5-2.0 ether per transaction
* Block reward: 12.5 etc. on block
* Mining Difficulties: steep, requiring significant computational force
Using price stocks for trading
If you want to trade, etc. that use price action, you will need to identify trends, formulas and levels of support/resistance on the market. Here are several strategies that you can use:
- Crossover sliding diameter (MacD)
* Draw the MacD line on your short-term graph (12-26 periods).
* Set the indicator level between 0-20.
* When the MACD line passes above the signal line, it is a shopping signal (MacD is above the signal line). Sell when it passes under the signal line. In this case, if the MacD passes below zero, it is a signal of sales.
- The Relative Power Index (RSI)
* Draw the RSI line on your graph with 14-21.
* Set the indicator level between 20-80.
* When the RSI line passes above the average of 50 periods, it is a surrender area. Sell when the price touches this level. In this case, if RSI passes below zero, it is a shopping signal.
- TREND following
* Draw two sliding diameters (MA) in your graph with different periods of time.
* When the shorter mass passes over longer, it indicates a change in the trend. Sell when the price touches the lower MAA. In this case, if the shorter you cross the cross below zero, it is a sales signal.
Example Graph:
Here is an example of a chart, etc. Using sliding diameters and RSI:
| Date | Price | MACD | Signal line | RSI |
| — | — | — | — | — |
| Mon | $ 60.00 | 0.5 | -1.2 | 30 |
| UT | $ 65.50 | -0.3 | -1.1 | 40 |
| St | $ 68.25 | 0.8 | -0.6 | 50 |
Conclusion
The price action is a powerful tool for trading with Ethereum Classic (ETC) using technical analysis and trend according to strategies. By identifying the trends, formulas and levels of support/resistance on the market, you can successfully make informed trade decisions, etc. Be sure to fall into any strategy before performing to ensure accuracy.
More tips:
- Keep in mind that price steps are not a guarantee of success. Trading includes a risk and it is necessary to manage your expectations.
- Always set the stop commands to limit potential losses.
- Monitor market sentiment and adjust your strategy accordingly.
- Stay in current market reports and development to stay forward.
By combining price events with technical analysis and trend according to strategies, you can effectively trade with Ethereum Classic (ETC) and increase your chances of success in the crypto market.