Coin_Analyst

Wave analysis for Ethereum Classic: 4hr tf

BITFINEX:ETCUSD   Ethereum Classic / U.S. Dollar
My previous post for Ethereum classic can be found here.


It was mentioned in the post that that a deep retracement was possible for Ethereum classic ( ETCUSD ) before the resumption of a sustainable uptrend. That is what Ethereum classic is working on currently as prices are currently in a downtrend on the 4hr tf.

Besides, the previous analysis expected a slight bounce off of either support 1 or support 2 before further selling continued.

Ethereum classic rather continued to sell off, taking out support 1 white it is meandering around support 2 at the time of this post. Price swing on the 4hr tf from ~$25.32 on May 7, 2018 to ~$16.93 is identified in this analysis to be part of a double zigzag Elliott wave structure that is not yet complete.

A possible termination point for the current downtrend is indicated on the chart with horizontal red lines (~$15.90 and $15.66). Failure of Ethereum Classic to hold support at the red lines could see prices return to test $13.75 region or even lower.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out