Ethereum classic setting descending triangle- ETC creating a descending traingle, which usually have the tendency to break to the downside
- Volume is nowhere to be seen, will need a spike upon breakout if we want to see a sharp move
Breakdown target: daily resistance @640 satoshi's
Breakout target: weekly resistance @946 satoshi's
Ethereumclassic
Ethereum Classic (ETC) - April 12Hi?
Dear Traders, Nice to meet you.
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It must rise above the long-term uptrend line (1), which must be supported.
The 5.889 point is an important point in the low-cost segment and should rise.
The position of the abbreviations has been changed slightly.
please check.
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I think the current situation is not good enough to understand the overall flow of the coin market.
Accordingly, it is time to focus on selling rather than buying to preserve profits.
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Description of abbreviations shown in chart
R: Resistance point or section, where a counter is needed to preserve revenue
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section
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ETC / USD — Continuation Setup. Target. Stop loss.Hey friend! Making everyday chart updates for you, send me requests.
Check out last ETCUSD analysis.
Price after breaking out from the Triangle pattern, now going to resistance zione
Looking to increase position near 5-ish prices.
SL shared in my group.
Keep position size small and safe.
Target at 6.5 zone.
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Always use stop loss to prevent yourself from losses.
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ETC Trading PlanHello Traders,
The ETC is close to a support level and is forming a high wedge formation. It looks like it is close to making an upward movement soon.
We recommend opening the long position if it breaks the high wedge above the support level. It would be a great opportunity for low risk with a potential high profit trade.
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ETCUSD has formed bullish Shark | Upto 384% big bullish movePreviously I published a post on Ethereum Classic where the ETC was forming a bullish Butterfly and as per prediction after completion the ETC produced more than 270% big gains.
Formation of another harmonic pattern:
This time on again 2 day chart the price action of Ethereum Classic has formed a bullish Shark pattern and entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $4.359 to $2.236
Sell between: $6.413 to $10.837
Stop Loss:
The potential reversal zone area which is up to $2.236 can be used as stop loss in case of complete candle sticks closes below this level.
This idea is for midterm and long term traders not a short term idea; I will be keep posting more trading ideas.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
Descending Triangle on ETC - Two ScenariosWe will look at Ethereum Classic here from a technical analysis point of view and discuss two different scenarios based on the descending triangle pattern.
The bullish scenario:
Let's look at the upper line of resistance here. If ETC can break through the upper resistance line of the triangle, we can expect a very bullish continuation of the price. Don't place your long order before it breaks through the line completely as the triangle can push the price down again near this area.
The bearish scenario:
The second important area is the trendline. If ETC can break through the lower trendline of the triangle, we can expect a bearish continuation of the price. Don't place your shorts before it breaks through the line completely as the triangle can push the price up again near this area.
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Highlighted recent success story:
Ethereum Classic (ETC) - April 4You should see if you can get support on the short-term uptrend line (2).
You should also see if you can rise above the long-term uptrend line (1).
Since the peak of convergence is reached, I think there is a high possibility of volatility.
The main point at the current location is 5.889.
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I think it is a good idea to stop trading and watch the trend during the period of large fluctuations from April 3rd (2nd to 4th).
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Forming a TriangleETC bounced off of a previous low of about $3.40 and is forming a triangle pattern. MACD and RSI show that it might break out. The 4-hour chart shows that RSI is around the middle and MACD is also converging.
Currently, I am looking for a sudden increase in volume and will hopefully take a long position if it breaks out.
ETC / USD — Ascending Traingle TradeHi people, welcome! What can move ETC price up or down next ?
Found ETC-USD in developing of Ascending Triangle (Flat Top)
Possible targets for this triangle in nearest strong support and target zones.
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Ethereum Classic is in a Great Buy ZoneHello Traders,
Etc is in a excelant buy zone. It corrected from its previous upward movement to the 0.618 of Fibonacci and now it is above an important support zone. There is a high probability to this asset restart its upward trend.
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Ethereum Classic (ETC) - March 28 (4h)It fell from the long-term uptrend line (1) and the uptrend line (2).
At 4.250, you must get support.
You need to make sure that you can ascend quickly to the long-term uptrend line (1) and the uptrend line (2).
The key point in your current location is 5.889.
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All coins are located at attractive prices.
However, careful trading is necessary as BTC moves.
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ETCBTC Just Got Its Horizontal Support Zone Confirmed [BULLISH]I was looking at this support zone for a while now. After a 6% price gain in about 24h, the price kept dropping and dropping rapidly. Finally it found support which made the bears temporarily leave.
I see two important resistance zones directly above it, to which I expect the price to increase. Now that the hit of the support zone seems like a possible reversal moment, I expect the price to reach above the resistance level 1 with a bit of struggle. Then, with an S/R flip I expect resistance level 1 to act as support to go to resistance level 2.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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ETC and altcoin comparisonETC has formed a descending broadening wedge, this is a bullish pattern. There is a large price range for bullish movement outside of the wedge. Also included early phases of ETC and compared to GNT (golem), shows clear degeneracy, with a sharp reversal point. Big money to be made.
Some wedge symmetryExample of wedge symmetry, rising wedge turned falling wedge on the ETCUSD pair. The falling wedge begins wide at the top and contracts as it proceeds, eventually tightening to a point where it 'explodes' which can be seen. The rising wedge is the same except beginning wide at the bottom and tightening as it proceeds upwards, eventually leading to bearish movement. Apologies for the top red line it is not symmetrical at all!