|

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

Solana Price Forecast: SOL drops below $100 as bears tighten grip

Solana (SOL) trades below $100 at press time on Wednesday, after taking a more than 6% hit the previous day as the broader cryptocurrency market slipped. Institutional and retail demand for Solana continues to decline, while on-chain data shows a record 150 million daily transactions on Tuesday.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple extend free fall amid broad market sell-off

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure so far this week amid the broader market sell-off. BTC reached its lowest level since early November 2024 at $72,945.

Top Crypto Gainers: WLFI, ATOM, and JUP post mild gains amid market sell-off

World Liberty Financial, Cosmos, and Jupiter posted a mild recovery on Tuesday, defying the broader cryptocurrency market-wide sell-off. However, the technical outlook for WLFI and ATOM remains mixed as short-term recovery challenges the prevailing bearish momentum.

Toncoin Price Forecast: TON recovery supported by bullish derivatives, fading bearish momentum

Toncoin (TON) is extending its rebound, trading above $1.40 at the time of writing on Wednesday, after recovering 4.5% over the past two days, following last week’s massive correction. The derivatives data shows improving sentiment with rising long bets and funding rates turning positive.

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: BTC correction deepens as Fed stance, US-Iran risks, mining disruptions weigh

Bitcoin (BTC) price extends correction, trading below $82,000 after sliding more than 5% so far this week. The bearish price action in BTC was fueled by fading institutional demand, as evidenced by spot Exchange-Traded Funds (ETFs), which recorded $978 million in inflows through Thursday.