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Weekly forecast Ethereum Classic technical chart
Symbol ETCUSD

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Trade Setup
#ETCUSD
Total Profit: 110222 pip (221%)
Closed trade(s): 68462 pip Profit (136%)
Open trade(s): 41760 pip Profit (85%)

Trade Setup:
We opened 9 BUY trade(s) @ 5.0222 based on 'Valley' entry method at 2020.11.05.

Closed Profit:
TP1 @ 5.9555 touched at 2020.11.18 with 9333 pip Profit (19%).
TP2 @ 6.3305 touched at 2020.11.21 with 13083 pip Profit (26%).
TP3 @ 7.0910 touched at 2020.11.24 with 20688 pip Profit (41%).
TP4 @ 7.5580 touched at 2020.11.25 with 25358 pip Profit (50%).
9333 (19%) + 13083 (26%) + 20688 (41%) + 25358 (50%) = 68462 pip (136%)

Open Profit:
Profit for one trade is 5.8574(current price) - 5.0222(open price) = 8352 pip (17%)
5 trade(s) still open, therefore total profit for open trade(s) is 8352 (17%) x 5 = 41760 pip (85%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateDecember 8, 2020 - 19:53
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 3.31, beginning of uptrend is expected.
  • We make sure when the resistance at 7.56 breaks.
  • If the support at 3.31 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 7.8430 on 11/25/2020, so more losses to support(s) 5.2085, 4.5655, 4.0595 and minimum to Major Support (3.3050) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Take Profits:

  1. 5.9555
  2. 6.3305
  3. 7.0910
  4. 7.5580
  5. 8.6280
  6. 9.7035
  7. 11.2200
  8. 13.1800
Click on the level to view price action history.

Symbol Released Current Forecast
Ethereum Classic (ETCUSD) Sun, 24 Mar 2024
Ethereum Classic (ETCUSD) Sun, 17 Mar 2024
Ethereum Classic (ETCUSD) Sun, 10 Mar 2024
Ethereum Classic (ETCUSD) Sun, 3 Mar 2024
Ethereum Classic (ETCUSD) Sat, 24 Feb 2024