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Ethereum Classic / UST

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ETCUST trade ideas

Brief Analysis——ETCLet’s get the long-awaited BTC ETF approved. This marks a new era for cryptocurrency. More funds from U.S. entities will flow into the crypto market. Although all 11 BTC ETFs have been approved, the SEC’s attitude does not appear to have changed. The reason we think so is that the SEC deliberately waited for the U.S. stock market to close before approving the BTC ETF, and when Gensler approved the BTC ETF, he stated that the approval of the ETF was only based on pressure from the court and did not support or recognize the view of BTC. Of course, this will not affect subsequent capital inflows, but regulation may mark some tokens as unregistered securities again to clean up the crypto market. Another special thing is that ETH saw a significant increase after the BTC ETF was approved, while BTC did not. This may mean that the market has turned its back on BTC ETFs and begun pricing Dencun. The token we will analyze today is ETC. As a token that will be halved in 2024, let’s take a look at its recent performance. Compared with other tokens, ETC has performed generally during this round of rise. Before yesterday, the maximum increase was less than 70%. With the gains yesterday, ETC is out of the 2023 range. This will have a positive effect on subsequent increases. Judging from the indicators, ETC has entered a bullish trend. On the WTA indicator, we can see that in the previous waves of rise, the inflow of whales represented an increase, and the outflow represented a callback. But the trend is closer to a fluctuation. Yesterday's rise in ETC was supported by a lot of whales. To sum up, we believe that ETC’s bullish trend is not over. Judging from the rise throughout 2023, As one of the few tokens with the halving concept and POW label, ETC has a greater possibility of rising. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
ETC/USDT 4H ChartI invite you to review the ETC chart on a four-hour interval. We will start by defining, using the blue lines, the upward trend channel from which we tried to exit at the bottom. Locally, a yellow downward trend line has formed. Let's now move on to marking support areas for the price and here, after unfolding the trend based fib extension grid, we can see that the price with dynamic movements returned to the support zone from $20.56 to $19.52, while leaving the zone at the bottom may result in a strong decline even to the vicinity $16.50. Looking the other way, we can similarly determine the resistance areas that the price must face. And here we can see the $20.76 level again as resistance, after which we can see increases towards the strong resistance zone from $23.12 to $24.38 just at the upper border of the previously mentioned channel. Looking at the RSI indicator, we can see that we have approached the lower limit, which could have slowed down the decline, but there is still room for recovery, while the STOCH indicator shows a quick rebound from the lower limit, which gives us energy for another price drop.
by cryptodailyuk
ETCUSDT #001 ( END with BEARISH move ,start with crazy bull run)Hello dear traders. Good days . On weekly Gann Square , first cycle of Bullish Gann square passed and 2nd cycle is started . 4HRS Bearish Gann Square is finished and from here is expected to move upward to the 0.618 Gann Box Fib level Price and continue to the 0.75 Gann box fib level. Chart updated and route plotted with help of Gann Square and Gann Box. Good luck and safe trades. Thanks for your support and comments
Long
by SHAlavi
Ethereum Classic's Strategic Play: Is ETC Setting Up for a SurgeBias: Bullish Description: Ethereum Classic (ETC) is showing a bullish setup with its price action above the Simple Moving Average (SMA) on the 4-hour chart. The recent uptick in price alongside increased trading volume suggests a potential for continued upward movement. Direction: Upward (Long) Entry: A prudent entry point would be after a clear breakout above the recent resistance near $22.292, ensuring that the move has enough momentum. Stop Loss: A stop loss could be placed just below the recent swing low at $20.402 to limit potential downside risk. Targets: Initial profit targets could be set near previous highs at $24.00 and $25.00, with a stretch target at the $27.00 mark if momentum persists. Caution: Watch for any signs of reversal, such as bearish candlestick patterns or a drop in volume, which could signal a potential trap. Keep an eye on the broader market trends, as ETC often follows the general sentiment in the cryptocurrency market. Stay vigilant for any sudden market-moving news that could impact the trade.
by SpyMk
ETC's Price ActionIn the weekly analysis, Ethereum Classic (ETC) is currently navigating a critical phase, ranging between the key Fibonacci resistance at the 1.0 level and the crucial Fibonacci support at the 0 level. This positioning indicates a distinct trading range, suggesting a consolidation phase within these boundaries. Investors and traders should anticipate a period of range-bound price movements in the short term. However, it's important to note a significant shift in market dynamics, as the previous bullish momentum has concluded, giving way to the formation of a bearish trend. This transition underlines the necessity for vigilance, as the emerging downward leg could signal a potential reevaluation of current strategies and readiness for shifts in market sentiment and price action. This analysis is for guidance only and shouldn't be taken as direct trading advice.
by MonoCoinSignal
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