Technical Analysis

Ethereum Classic Is Looking For More GainsJul 25, 2023

Ethereum Classic is looking for more gains from technical point of view and from Elliott wave perspective.

Ethereum Classic with ticker ETCUSD is moving nicely as expected since last update, when we mentioned and highlighted about a three-wave A-B-C pullback in (B)/(2) after we noticed a five-wave impulse into wave (A)/(1).

Ethereum Classic Is Looking For More Gains
ETCUSD 4H Chart From July 10 2023

As you can see, three-wave A-B-C corrective setback can be now coming to an end with ideal support here around 17 area, so watch out for a bullish continuation into wave (C) or (3) soon.

Ethereum Classic Is Looking For More Gains
ETCUSD 4H Chart From July 25 2023

One of the main reasons why ETCUSD can go higher is Ethereum Classic GrayScale Investment Trust (ETCG), which remains nicely bullish after we spotted a completed (A)-(B)-(C) flat correction in B/2. We are currently tracking either wave C or 3, which should be completed by a five-wave cycle of the lower degree and it can push the price at least back to the former wave 4 swing high and 16 area for wave C or maybe even higher for wave 3, if 16 level will be broken decisively.

Ethereum Classic Is Looking For More Gains
ETCG 4H Chart

Become a member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here 1st month only 20€. Offer expires in 2 days

Crypto Market Is Getting Ready For A Bullish Continuation. Check our free chart HERE.

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close