ETCCAKE_C9AEC7.USD trade ideas
ETC — August 2024 ATHBITFINEX:ETCUSD is not a clone of BITSTAMP:ETHUSD , but a continuation of the original Ethereum launched in 2015, which The Ethereum Foundation forked away from by launching a new protocol one year later in 2016.
Applications on BITFINEX:ETCUSD have been operating uninterrupted for a year longer than on Ethereum™, making ETC the longest-running and most reliable Smart Contract Platform.
This analysis suggests that BITFINEX:ETCUSD is likely to reach all-time high in August 2024.
NFA. DYOR.
ETC/USD: Bearish Sentiment Dominates In my latest analysis of ETC/USD on the daily time-frame, I've observed significant bearish pressure mounting as the price hovers around crucial support levels. The chart clearly illustrates a series of Elliott Waves, combined with Ichimoku Cloud analysis and volume profile, pointing towards potential outcomes in the near term.
Key Observations:
Wave Structure:
Multiple WAVE I points have been identified, marking significant impulsive moves followed by corrections. The latest WAVE I suggests the start of another downward wave after a brief recovery attempt, which is currently being tested at lower levels.
Ichimoku Cloud Analysis:
The price is below the Ichimoku Cloud, signaling a bearish trend. The cloud has acted as resistance, further reinforcing the downward momentum. This bearish sentiment is likely to continue unless the price can decisively break back above the cloud, which seems challenging given the current market conditions.
Price Targets:
NT Target (28.86): This level was a significant target during the previous upward move, but the failure to sustain above this level indicates strong resistance and the potential for further declines.
N Target (17.3): The price is approaching this key target, which could serve as a critical support level. A break below this level could open the door to even lower prices, potentially testing the V Target (11.18).
V Target (11.18): This lower target would represent a significant bearish move, aligning with a continuation of the current downtrend if the market sentiment remains negative.
Possible Outcome:
Given the current setup:
Bearish Scenario: If the price continues to decline and breaks through the N target at 17.3, we could see an accelerated move towards the V target at 11.18. This scenario aligns with the overall bearish outlook and would suggest that the bears are firmly in control.
Bullish Reversal Potential: Should the price find strong support at the N target or the current level around 19.03, a reversal could be possible. However, the price would need to reclaim the NT target at 28.86 and move back into the Ichimoku Cloud to signal a potential shift in trend.
Conclusion:
The chart suggests that ETC/USD is under significant bearish pressure , with key support levels being tested. The failure to hold above critical targets indicates a high likelihood of further downside, particularly if the price breaks below the N target at 17.3. I will be watching closely to see how the price reacts at these levels, as they will likely determine the next significant move for ETC/USD. Traders should remain cautious and consider the broader market context when positioning themselves in this volatile environment.
PJB
ETC Time Has ComeIn order to show my previous analysis more precisely, I have to show this path that it is likely that this path will be Ethereum Classic in the next 1 year, and the start of this path, considering the completion of the time correction, can be at the end of this July and the beginning of the next month, and if in this The price path of 43 to 47$ can be broken with strength, we can speak with more certainty about the occurrence of this analysis and the target of wave 3 of this path is around $200 and the target of wave 5 of this path is around $350. In my previous analyzes I have said many times that the region It is suitable to enter at the bottom of the channel around 19$ and the time target for this path is around 14 months.
New Cycle Starting?Yep most ppl think this is dead (they may be right but who cares) - Chart is looking spicy for a huge parabolic move...send it.
Bull Run Is Comingonly two weeks left to get begin a graet bullish wave due to time analysis.the time correction is going to be end in two weeks and i guess a bullish wave will start in july and the targets of this wave are 140$ in the middle of this chanel and the top of this chanel is around 800$ that is a little optimistic.but 300$ to 400$ is realistic.all of the weekly indicators and oscilators are the same situation of the last bullish wave in 2020.the lowest risk price for buying is around 19 to 21$ and the time of this long wave is around 10 months to 13 months.the 55weekly EMA has crossed 100 weekly EMA and in ichimoku cloud has been seen two bullish steps just like the last bullish wave. and we have a 25 months's time box that will end in next month.
ETC / USD * Ethereum Classic * Weekly EWP FIB TC analysisETC / USD * Ethereum Classic * Weekly Elliott Wave Priciple Fibonacci Trend-Channel analysis
Etc bouncing off support showing sign of strengthHi all
Just an update.
Etc seems to have bounced off support and currently showing in ‘test’ of Wycoff accumulation. We want to see it hold this support and work its way Out to validate this as a bottom. We will keep an eye out to see if etc hold and to show sign of strength to then work it’s way back up
Thanks
ETC showing Wycoff accumulation Hi all
Been studying this chart for a while. Looks like Wycoff accumulation
Seems like we have surpassed spring phase and now the important levels to test as support is $34 then $53
Let’s give it a few weeks to see if this idea is valid
Thanks
Target-3 = $ 300
Chart pattern on monthly. I really like using higher time frames.
Target-1 = $ 45
Target-2 = $ 95
Target-3 = $ 300
MACD (Daily Timeframe, Buy signal):
Backdrop:
Ethereum Classic ETC 300$ on bullrun cycleOn my chart you can see accumulation phase from 12$ to 50$ , price can't broke the support level 12$ since January 2022. Also there are one more accumulation inside with range 12$ to 26$ which continues from December 2022 - 1 year of accumulation phase. On lower timeframe you can see how price works with lower liquidity and also leave compression of liqiudities which will be the fuel for bullish movement, the same view was on previous bullrun. If you enter right now and wait a time , you can easily hold ETC before ATH happen, it will be 10x from enter. The same situation with ETC/BTC and ETC/ETH , price works well with lower liquidity . Also miners can't mining ETH and a lot of people decided mining Ethereum Classic , also I believe ETH can help his brother ETC to pump coin . MAX marketcap of ETC was 14b, and that time when Litecoin had 22b, Chainlink - 20b.
Is History going to repeat?ETC above the 200W MA holding for 5 weeks now. last time this happened was 6 weeks and etc took off for 1600% what are your thoughts?
bullish chart of ETCbullish wave of #ETC can start in July from 22$ to 24$ to 800$ But I think this target is not reasonable because of its marketcap in that price. A reasonable target for this rising wave, which is exactly in line with the rising trend line of the previous tops in its linear chart, is $380, which in the next year can reach it, so note that this price is available until July of 2025 and not in a short time.The 55-week moving has crossed the 100-week moving exactly like the previous movement, and exactly the same movement can be seen from the weekly Ichimoko cloud, and exactly the 2-year box in which the price has built a floor can be seen, which is the same as last time.
ETC BABY!!!!On the weekly this has not happened in 4 years last time ETC rallied for over 1600% will it again?
🚀 Catch the Classic Rise: ETCUSD Long Trade Alert! 🚀Hello, Traders! Looking to spice up your portfolio with a flavor of classic gains? Let's break down why Ethereum Classic (ETCUSD) is gearing up for a notable uptrend and why you might not want to miss out!
Current Summary for ETCUSD
Currently, there's no direct news about Ethereum Classic, but we can contextualize its position in the broader crypto market. Recent significant crypto transactions involve a whale depositing a substantial amount of ETH into Binance. This action signals potential volatility or strategic positioning in the market, which indirectly affects all related cryptocurrencies, including ETC.
For example, a whale deposited 11,550 ETH into Binance, worth about $37 million. This move might suggest a preparation for price movement or a strategic shift in holdings. Such large-scale activities often impact market sentiment and can lead to price fluctuations across the board, including for Ethereum Classic. 🐋
Although these activities primarily involve Ethereum, they reflect general market behaviors that could influence Ethereum Classic, given their shared blockchain heritage and investor base.
Why Go Long on ETCUSD?
Ethereum Classic's transaction value in USD recently dipped to a noteworthy low of $523.06. Why care? Historically, such lows have been the catapults for upward price trends. This isn't just a hunch — data dives deep!
Big Data Insights 📊:
On-chain metrics have shown a pattern — when certain metrics fall, ETC tends to bounce back stronger, much like a phoenix rising from its ashes. Here’s the scoop:
Transaction Value USD : Below $1150.6
Puell Multiple : Below 1.3 (52-day change below -0.1)
Total Fees in USD : Below $70
Each time these conditions were met historically, ETCUSD saw a median price increase of 24.19% over the following three months. We've crunched numbers from 11 similar past events, showing an impressive 85% of those periods ended in price surges. 💹
Price Projections:
1 Week : $27.4473 📈
2 Weeks : $27.9672 📈
1 Month : $30.4003 📈
3 Months : $33.7996 📈
6 Months : $36.3007 📈
Trade Strategy:
Take Profit: $34.7601
Stop Loss: $24.605
🌟 Why Follow This Trade?
It's backed by consistent historical data, promising a high accuracy and attractive risk-reward ratio. This isn’t just trading—it’s trading with the wisdom of the crowd, refined through big data!
Let's ride the wave of historical momentum with Ethereum Classic. Are you in? Drop a comment, share your views, or toss a like if you're ready to catch the classic rise! 🌊🏄
Ethereum Classic halving. PRICE $55Ethereum Classic's chart analysis points to a forming Elliott Wave pattern, hinting at a bullish Wave 5 if the price exits its consolidation channel. Watch for the MACD nearing a bullish crossover—a key signal for traders. With Wave 5's target at fib 1.618 ($55) and the halving event on the horizon, we may see a significant momentum shift.
Can it really be this easy Will Ethereum classic color inside the lines? Isn’t really much more to this post than pointing out the long term pattern.
Ethereum classic bullish??Wave 5 incomming for ethereum classic to end wave 1 ? Then after abc correction (wave 2) a sick wave 3??? Forming some cup & handle then boom???
ETCUSDT Bullish Opportunity with XABCD Harmonic PatternOverview:
ETC/USDT has exhibited the formation of an XABCD harmonic pattern, coinciding with price action nearing a crucial support zone. This confluence suggests a potential bullish reversal from point D, indicating favorable trading opportunities for market participants.
Key Technical Observations:
1. XABCD Harmonic Pattern: The chart analysis reveals the emergence of an XABCD harmonic pattern, characterized by distinct price swings that conform to Fibonacci ratios. This pattern indicates a potential reversal zone, with point D signaling a probable shift in market direction.
2. Key Support Area: Price action has approached a significant support area, enhancing the likelihood of a bullish rebound. The convergence of the harmonic pattern and the support zone strengthens the validity of the anticipated bullish move.
Trade Recommendations:
- Entry: Consider initiating a long position near 32.8150, aligning with the anticipated bullish reversal at point D of the harmonic pattern.
- Stop Loss: Implement a stop-loss order at approximately 31.1750 to mitigate potential losses in case of adverse price movements.
- Take Profit Targets:
1. TP-1: Set the first take-profit level at 34.5800 to secure profits as the price advances in the bullish direction.
2. TP-2: Aim for the second take-profit level at 36.1933 to capitalize on further upward momentum.
3. TP-3: Consider a third take-profit target at 37.8760 to maximize returns as the bullish trend potentially extends.
Risk Management:
Maintain prudent risk management practices by adhering to the specified stop-loss level and adjusting position sizes according to individual risk tolerance. Periodically reassess the market conditions to adapt trading strategies accordingly.
Conclusion:
In summary, the technical analysis of ETC/USDT suggests a favorable outlook for bullish opportunities, supported by the formation of an XABCD harmonic pattern and price action nearing a critical support area. Traders are advised to consider the provided trade setup, incorporating appropriate risk management measures to optimize potential returns while safeguarding against downside risks.
Ethereum Classic halvingETC: Ethereum Classic next halving(20% reduction) is forecasted to occur on or around May 31st 2024, block height 20,00,001. So far, the market structure that ETC has formed leading up to 5/31/24 does point to a potential high of 54 by then. ETC's 2 year high just so happens to be 54. BCH: Bitcoin Cash completed it's halving on 4/3/24, block height 840,000 hitting it's +2 year high. And everyone knows BTC: Bitcoin halving is coming up on 4/18/24, block height 840,000 and has already surpassed it's +2 year high making all time highs. Please comment and let me know what you think about the up coming Ethereum Classic halving catalyst?
ETCUSD new rally starting towards $50.Ethereum Classic (ETCUSD) has started to rise again, so far being on the 2nd straight green 1D candle, without breaking the key 1D MA100 (green trend-line), which has been supporting since essentially the October 23 2023 break-out.
As long as this holds and ETC keeps closing the 1D candles above the 1D MA100, we expect a new cyclical rally to start within the Fibonacci Channel Up. The last one was +83.17% from its Higher Low, so a repeat would give us $49.00 by May.
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Ethereum Classic Bullish ChartThe Ethereum Classic (ETC) chart indicates a bullish trend with the price rebounding from the lower trendline of an ascending channel. The analysis points to an ambitious target at the channel's upper trendline, coinciding with the Fibonacci 1.618 extension level of $880.11. Despite the seemingly high target, the confluence of these technical indicators supports this potential outcome.
