Markets Technical Analysis

Ethereum Classic (ETC) Might Not Be a Laggard for Long

By Valdrin Tahiri
Updated by Ryan Smith
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In Brief

  • ETC has been trading inside a descending wedge since the beginning of March.

  • There is long-term resistance and support at 110,000 and 55,000 satoshis, respectively.

  • ETC/USD is likely in the beginning of the 3rd wave of a 5-wave formation.

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Ethereum Classic (ETC) is nearing the end of its corrective movement, after which a prolonged and significant upward move is expected. Trading Range The ETC price began an upward move in September 2019, one that eventually led to a high of 137,360 satoshis on 29 January 2020. This move caused a breakout from the 110,000 satoshi area, which had previously acted as support and was
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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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