Ethereum Classic Price Analysis — July 18Ethereum Classic has tapped the critical $23.00 line for the first time since June 6, following a consecutive six-day rally. ETC also breached the daily 100 EMA for the first time since March and stands the chance of prompting a momentum change if it closes the day’s candle above this line. Better still, ETC could put $30.00 back into focus if it manages a candle close above the $23.00 mark.
However, the price appears to be in overheated conditions (see stochastic indicator), warranting some cautions on bullish bets. Regardless, the cryptocurrency stands a real chance of sustaining the newly acquired bullish momentum. As mentioned earlier, the price rejuvenation comes after the confirmation of a possible launch date for the Ethereum Merge upgrade.
Meanwhile, my resistance levels are $23.00, $25.00, and $30,00, and my support levels are $20.00, $18.00, and $17.00.
Total Market Capitalization: $1.01 trillion
Ethereum Classic Market Capitalization: $3.06 billion
Ethereum Classic Dominance: 0.3%
Market Rank: #24
ETCUSD.P trade ideas
$ETC Ethereum Classic Bullish GartleyReal nice bullish gartley here on the 4hr/6hr with bullish divergence and 3 bullish japanese candle stick patterns between the 2 time frames (pin bar / engulfing 6hr, rising 3 methods on the 4hr)
ADX indicates that the bear trend is fading while volatility contracts.
Momentum slowing down a little bit but still bullish as we backtest the .236 for support, perhaps a checkback and continuation setting up.
Obviously its pertinent to keep BTC in mind and the larger macro as well, but its a real nice start here.
Your stop should be tight in these market conditions until we get further validation, in the case of the gartley, one would consider the pattern failed if we fell under (D) at this point considering the rest of the variables.
ETC can go lower than you can imagineAs we can see on the ETC chart, even levels formed without removing liquidity. Major stops and liquidity are below previous lows. Locally, upward movement is possible, but globally, we have an untraded part of the chart, where small holders capitulate, and big capital can gain their positions. Since before that the price had risen to $140 with no volume, I think that the growth was manipulative and we easily can see POI 1 and POI 2 IN THE CASE IF THE PRICE EXITS OUT OF THE UP CHANNEL.
ETC for the win and post-merge hash rateSuper bullish on ETC. The simple fact is that all of the mining hardware of ETH post "POS" needs to be relocated and ETC is likely the easiest home for all of that Hashrate. DCAing in this area for sure but don't take my word for it, This is not financial advice. The price action is now at a sliding parallel and looking for something interesting around the next reaction line. Loading the bags ...
ETCUSD (4H) - Bearish reversalHi Traders
ETCUSD (4H Timeframe)
Waiting for the downward break of 20.80 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 25.15 would cancel the bearish scenario.
Trade details
Entry: 20.80
Stop loss: 25.15
Take profit 1: 18.30
Take profit 2: 15.55
Score: 6
Strategy: Bearish reversal
ETCUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (21.87 ).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETCUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 76.
Take Profits:
TP1= @ 23.99
TP2= @ 25.18
TP3= @ 26.95
TP4= @ 28.23
TP5= @ 30.90
SL= Break below S2
ETC, is expected to head and shoulders top.The following content is machine translation:
In the 4-hour chart, the pattern structure is similar to the head and shoulders pattern, and the shoulders are currently forming, which is bearish.
The fast and slow line of the indicator macd runs above the zero axis, and the opening is distributed downward. The RSI indicator has dropped from the overbought area to the current neutral 50, and the trend is downward, and there is still room below.
In operation, the head-and-shoulders pattern cooperates with the macd indicator and the RSI indicator to weaken and bearish, and go short on rallies within the day.
ETC Analysis (for practice) The yellow lines here are the daily unchecked levels I identified. Price seems to be making its way down to check the 28.75 level, with some stops along the way (Stops being unchecked levels within the lower timeframes).
The tan lines indicate 4-hour unchecked levels, one of which the price has recently checked (tan dotted line).
If there aren't many institute buy orders here at the 4hr levels, we shall see the daily level get checked soon, imo.
* This is not financial advice*
ETC, could be a gold mine, might fail miserablySome major bullish factors for ETC:
1) Mystique hard-fork solving the double-spend issue and strengthening the chain back in February
2) The "fifthening" in 2 days (April 15th), block reward cut by 20%
3) ETH live testing (ghost network) PoS chain right now, target date for complete implementation June, miners likely switch to ETC en masse.
4) on ETC:BTC pair it's well above all daily MA's
5) Using 50D MA as support
Bearish:
1) Held under 200D MA
2) Market barely holding support, with ample bearish sentiment across the board
3) Lots of resistance above between here and $54
If the market pumps ETC could go bigger than we've seen a token go in a while, but anything but a strong bull market and this token has so much resistance above it there's no way it'll break out.
ETC Ether Classic Bull Flag? Ether Classic (ETC) could be ready to go. If Bitcoin continues to trade sideways or push higher, I expect ETC to break to the upside. ETC has a lot of potential with the coming POS transition on Ethereum in which there shall be an exodus of miners. Some may argue this is the very reason that ETC exists, because of the changes coming to ETH. In the end both of these are run by individuals so neither has the shine for me that Bitcoin does, but regardless... Let's see!