ETCUSD.P trade ideas
ETC- 50/50 Outlook over this month leading to Magneto upgradeHello Traders,
Like most of the market, we are awaiting a continued confirmation of an uptrend.
In the meanwhile, it seems to be fruitful to follow the events and/ or upcoming upgrades.
Though not all of the apples fall from the same tree, as some events go unnoticed, so it may serve you well, to follow the more common and well known projects.
Yes, they may not put off the 400% gains but, a potential 100%-200% gains will do anyone just fine.
ETC looks to be forming an inverse Head and Shoulders pattern on the hourly chart. The daily chart may be forming a short term bearish pattern leading to a retest of the bottom trend line. Unless, the recent upward movement continues and it can push past the resistance.
In any case, I think ETC can have a strong next couple of weeks, giving a 50/50 chance of solid ROI of 80%-100%, landing us in the $120.00 range.
This week, will be big for the whole market, as it will be the beginning steps to a bullish confirmation for the remainder of the year, or a slow and steady bleed.
Good luck.
ETC: Near-term forecastHi Everyone,
Just to share a near-term forecast for ETC.
I think we've recently completed 4 sub-waves and entering the 5th Elliot Wave currently.
Based on this, I expect the 5th wave to reach at least to 67USD. This corresponds to both the 24% internal Fibonnaci retracement on the higher time frame, and also close to the 61% extension of Wave i-iii.
However, this ignores fundamentals, and the action of the overall crypto market.
Good luck!
Ethereum Classic has a lot of firepower left| Long term viewIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: As of now, ETCUSD is on a steady rise. It is currently leading the rise among most other Altcoins. ETH had a good rally the past two days and has now cooled off. However, its not so distant cousin ETCUSD, or Ethereum Classic, seems to be going steady at the moment.
Market in the last 24hrs
ETC can be seen to be entering a consolidation. Such a consolidation is quite expected after such a fantastic rally over the past four days.
Today’s Trend analysis
We are likely to witness some selloff going forward in the short term. As the buying frenzy subsides, ETCUSD will reach a lower price point than current levels.
However, on a longer term horizon, the potential to go much higher above current levels exist.
Price volatility remained high at approximately 13.64%, with the day's range between $62.84 — $55.296.
Price at the time of publishing: $58.64
ETC's market cap: $6.83 Billion
Out of 11 Oscillator indicators, 5 are neutral,1 is bullish, and 5 are bearish .
Out of 15 Moving average indicators, 13 are bullish, 1 is bearish and 1 is neutral .
Indicator summary is giving a 'BUY' signal on ETCUSD .
Volumes have remained high in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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-Mudrex
Etherereum Classic Price Prediction:ETC-Major bullish breakoutThe Ethereum Classic price has exploded higher by almost 50% in 24 hours. As a result, ETC's technicals have swung from bearish to positively delightful.
Not only has, a double-bottom formed, the 50, 100, and 200-day moving averages have been left for dust.
Furthermore, the impulse move higher has cleared the resistance of a strong downtrend. Additionally the Ethereum classic price has regained it long-term uptrend.
As long as ETC sustains the $53.40 level, it should easily achieve 45% from here.
TP target: $84.00
SL: tight, and below $53.40 on a daly close basis