Technical analysis by Erictaylor about Symbol ETC: Buy recommendation (12/14/2024)

After a great bounce off the 50% retrace to 28.66$ we have rallied back to 35$ area We have been met with resistance here however we have now been consolidating creating a symmetrical triangle here with a breakout resistance of 34.40 and a FIB resistance of 34.70 and the pattern support lies around 33-33.30 areaIf ETC can breakout upside we can see a push back towards 37$ while a break down target could bring us to retest the 31-30.50$ areaI am waiting for my next move but a push above 35$ with conviction could be a great long trade to continue back towards previous rejection area of 40$ while a breakdown could be setting up for a larger W pattern with a higher low