ETCUSD: Rebranding Ethereum Classic

Hello traders! We got a lot of requests about our view on ETCUSDT due to upcoming rebranding. So, from technical perspective ETC looks bullish after we saw a big three-wave A-B-C corrective decline from highs. Even if ETC lost more than 60%, still looks corrective within uptrend. So, as you can see ETC has already broke channel resistance line and it's currently trading within sharp and impulsive waves higher, so we expect even more, but be aware of pullbacks which may happen after completed five-wave rally. If we take a look closer, we can see ETC trading in wave (4) correction, which may test 30 level before continue higher.

We will keep you updated!

Bình luận:

ETC hit 30 level, ideal support for wave (4) and exactly as we expected. Ne aware of a bounce here, but if from any reason breaks below 26.40, then ETC would have only three-waves up and it would not be bullish confirmed yet and we may see something more complex.

Bình luận:

Bình luận:

Traders, that was fast! Thank you very much for you attention. We are officialy in bullish trend, just keep in mind that in EW theory after every five waves, a three-wave pullback follow, so before ETC continue it's uptrend, we may see a deeper and longer correction!

Bình luận:

ETC hit our projected target perfectly, just keep in mind that we have five waves up from lows and three-wave decline may occur soon.

Bình luận:

Hello traders, ETC declined as expected and as we mentioned that after five-wave rally, a three-wave setback occurs. So, seems like ETC just started a deeper pullback, but we don't see broken channel support yet, which means that ETC can be still somehow in wave 4 correction as long as it's trading in a channel range, so if ETC breaks lower channel line, we may see 30 level again.

Bình luận:

Ethereum Classic also just like BTC and LTC moving nicely lower with broken channel support line into correction of wave A as expected, so be aware of small recovery into wave B, before continue lower into wave C, where ETCUSD may find support around 61,8% Fibo. retracement and 26 level.

Bình luận:

OK, ETC hit wave B, second wave od a three-wave correction, so be aware of another decline into wave C towards 26 level, just like we expect also on BTC and LTC!

Bình luận:

ETC moving nicely lower as expected towards 26 level, where it may come to the end of correction!

Bình luận:

Hello traders! ETC dropped and hit our projected support as expected, so we have to be careful around this support! We could see even lower levels, if we compare it to BTC and friends, so we strongly suggest to wait for bullish confirmation first, which would be five waves up from projected support or break above 39 level!

Bình luận:

Traders, ETC hit our projected support, but that doesn't mean we will see a bounce here. We mentioned many times, for reversals we need a bounce with five waves, so this is not the case. Because of so sharp and impulsive wave C and expectations of BTC weakness, we may see eve lower levels here towards 20-22 levels!