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).
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.
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.
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000
Bitcoin price just like other assets, is highly impacted by the macro-financial developments. This includes the Nonfarm Payrolls (NFP) report released by the BLS of the United States. This time around, the NFP data is expected to cause a dip in the value of BTC.
Ripple is now only 3% away from becoming a bigger entity than Binance Coin
Ripple has overcome a lot of obstacles on its way to becoming the world’s fifth-largest cryptocurrency, as witnessed by the recent rise in XRP price. The native token of the world’s biggest crypto exchange, Binance Coin, on the other hand, has been moving in the opposite direction.
Ethereum leads altcoins north as Bitcoin halts amid bull trap fears
Ethereum (ETH) price remains northbound, unrelenting despite the king of cryptocurrency, Bitcoin, showing weakness. Behavior analytics tool Santiment observes that Ether and altcoins are on a tear even as BTC momentum fades.
BTC headstrong as Spot ETF talks reach technical stage
Bitcoin remains steadfast on the higher timeframe, amid news that spot BTC exchange-traded funds (ETF) discussions are now at the technical stage of approval. Specifically, talks with Spot BTC ETF issuers have advanced to key technical details, with Reuters indicating that it could signal a shift toward a potential approval.
Bitcoin price notes minor decline as US Nonfarm Payrolls report creation of 199K jobs
The United States Bureau of Labor Statistics (BLS), in its Nonfarm Payrolls (NFP) data, reported the creation of 199K jobs in the month of November, wildly surpassing the expectations of 180K jobs. This data, while expected to have a significant impact on the market, ended up being a low-impact event on Bitcoin price and other crypto assets.