|

Ethereum Classic Price Prediction: Is this the pullback we’ve been waiting for?

  • Ethereum Classic falls in free-fall fashion after landing in a weekly congestion zone.
  • ETC price has printed three clear impulse waves up.
  • Invalidation of the bullish outlook is a breach below $13.28. 

Ethereum classic price has more upside potential but finding an entry point will be challenging.

Ethereum Classic price is a dangeous knife

Ethereum Classic price currently trades at $33.88 as the bears take full advantage of the profit-taking consolidation near the $40 congestion zone. Last week, an inaccurate forecast was issued, which targeted the $19 zone. Now that the Ethereum price is reclining, traders are watching the digital asset closely, looking for a potential entry and additional target in the $42, $47 and $50 levels.

Ethereum Classic price has printed three clear impulse waves up, suggesting a more extensive bull run could be underway. Still, the pullback could fall as deep as the anticipated target mentioned in last week’s thesis at $19. Thus attempting to catch a knife is ill-advised. A more favorable low could be between $28 and $33, with the same targets mentioned above. 

tm/etc/8/1/22

ETC/USDT 1-Day Chart

A tighter invalidation point for possible bullish entry will be marked out as more technicals unfold during the week. The safest uptrend invalidation is currently the origin point of the rally at $13.28.

In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team



 

Author

Tony M.

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

More from Tony M.
Share:

Editor's Picks

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

Bitcoin falls to two-week low as ETF outflows, tariff chaos weigh

Bitcoin price extends losses on Tuesday, ending a two-week consolidation phase. Risk-on sentiment fades amid growing uncertainty over Trump’s tariffs and rising US-Iran tensions, increasing downside risks toward $60,000.

Sui Price Forecast: SUI capitulates under pressure, opens the door to $0.70

Sui (SUI) declines by 3% at press time on Tuesday, extending the downside breakout of a short-consolidation range confirmed the previous day. Retail sentiment is bearish, as evidenced by increased long liquidations and a sharp drop in the funding rate. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.