TradeCityPro | ETCUSDT Still Ranging in the Box!
2025-01-05
Category: None

👋  Welcome to TradeCityPro Channel! 
Let’s analyze Ethereum Classic during the market's holiday period, where we saw some movement. We’ll review the triggers together.

🌐  Overview Bitcoin 

Before diving into today’s altcoin analysis, as usual, let’s check Bitcoin in the 1-hour timeframe. Bitcoin is still under a descending trendline. Once this is broken, it can move toward 98599, and after that, to 99443. It’s better to open or maintain positions after breaking 99443, as volatility is expected to increase at higher levels.

Whether I open a long position after breaking the trendline or resistance at 98599 depends on Bitcoin dominance. If Bitcoin dominance shows a red candle at the time of the breakout, I’ll focus on altcoins or BTC pairs. If it’s green, I’ll prefer Bitcoin itself. This could lead to another wave movement.


📊  Weekly Timeframe 

It feels like we’re analyzing forex charts—completely ranging! This is normal given Ethereum Classic’s mining-related dynamics and the heavy movements associated with it.

For around 1100 days, this coin has been ranging within a large 130% box. Without a proper trigger, investing in this range might have tied up your capital, especially when other projects provided much higher returns over the same period. This highlights the risk of entering the market without a trigger.

If you’re holding ETC and want to set a stop-loss, you can exit if a weekly candle closes below 14.68.

For re-entry, the box top trigger at 36.58 is an excellent option. Since ETC is rebounding from the box’s midline, the likelihood of breaking the top is higher. The 24.78 support level can serve as a suitable stop-loss for box breakout attempts.


📈  Daily Timeframe 

ETC has been performing well since breaking the daily box top at 20.92. It moved from the box’s bottom to its top, emphasizing the 38.24 resistance even further.

The $25 level currently serves as the most crucial support, coinciding with the weekly box’s midline. Staying above $25 indicates a higher low and a rebound from the channel’s midline, reflecting stronger buyer activity. This could lead to testing 38.24 again and possibly breaking it.

If you bought after the 20.92 breakout, your stop-loss should be below 17.55, with some profits already secured. If you haven’t acted yet and if resistance at 28.49—better yet, 30.20—causes a rejection and forms a lower high, consider exiting below $25 and look for new triggers later.

For re-entry, breaking 28.49 is a potential entry point, but your main entry should be after breaking 38.24, with momentum and increased volume supporting it.

⏱  4-Hour Timeframe 

ETC belongs to the group of coins that didn’t break their 4-hour resistance and box top yesterday, possibly setting up futures positions next week.

📈  Long Position Trigger 
The rejection from 28.49 clearly defines the trigger. Open a long position after breaking this resistance or after the RSI breaks 72.58.

📉  Short Position Trigger  
The main trigger at 24.92 is quite distant. However, if the 28.49 resistance turns out to be a fake breakout, you can use the fake breakout strategy. Look for the first trigger in lower timeframes to open a short position.


📝  Final Thoughts 

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️