TRENDING:
Canadian Unemployment
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Ethereum classic is looking for more gains

Ethereum classic is looking for more gains
Gregor HorvatGregor HorvatWavetraders

Ethereum Classic with ticker ETC/USD is moving nicely as expected since last update, when we mentioned and highlighted about a three-wave A-B-C pullback in (B)/(2) after we noticed a five-wave impulse into wave (A)/(1).

etcusdjul10

ETC/USD 4H Chart From July 10 2023

As you can see, three-wave A-B-C corrective setback can be now coming to an end with ideal support here around 17 area, so watch out for a bullish continuation into wave (C) or (3) soon.

etcusdjul25

ETC/USD 4H Chart From July 25 2023

One of the main reasons why ETC/USD can go higher is Ethereum Classic GrayScale Investment Trust (ETCG), which remains nicely bullish after we spotted a completed (A)-(B)-(C) flat correction in B/2. We are currently tracking either wave C or 3, which should be completed by a five-wave cycle of the lower degree and it can push the price at least back to the former wave 4 swing high and 16 area for wave C or maybe even higher for wave 3, if 16 level will be broken decisively.

etcg4h

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

More from Gregor Horvat
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Pi Network Price Forecast: Bearish streak nears critical support trendline

Pi Network Price Forecast: Bearish streak nears critical support trendline

Pi Network (PI) edges lower on Friday for the third consecutive day, approaching a local support trendline. The on-chain data suggests an increase in supply pressure as Centralized Exchanges (CEXs) experience a surge in inflows.

Top Crypto Gainers: Zcash rallies as MYX Finance, Dash test critical EMA levels

Top Crypto Gainers: Zcash rallies as MYX Finance, Dash test critical EMA levels

Zcash , MYX Finance, and Dash are the top-performing assets in the top 100 cryptocurrency list over the last 24 hours. The privacy coin leads the rally while MYX and DASH struggle to clear their 100-day Exponential Moving Averages (EMA).

XRP slides amid record on-chain activity, mixed technical signals

XRP slides amid record on-chain activity, mixed technical signals

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster is consolidating above $1.05 at the time of writing on Thursday, reflecting lethargic sentiment in the broader cryptocurrency market. The token native to the perpetual DEX had recovered from Monday's low of $0.88 but stalled around $1.08 on Wednesday.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.