- Ethereum Classic rebounds from support at the lower falling wedge boundary.
- Analyst Jonathan Carter predicts a rise to $9, $13, $18, and higher.
- Stop-loss at $7 recommended to protect against downside risk.
Ethereum Classic (ETC) is showing signs of recovery after finding strong support at the lower boundary of a falling wedge. Analyst Jonathan Carter forecasts significant upside potential, with price targets ranging from $9 to $78. However, a stop-loss at $7 is advised to manage downside risk.
Ethereum Classic Finds Support at Falling Wedge Pattern
Ethereum Classic (ETC) has recently found significant support at the lower boundary of its falling wedge pattern on the weekly timeframe. According to analyst Jonathan Carter, the price is rebounding from this key support zone.
The wedge structure remains intact, which suggests that Ethereum Classic could experience strong upside potential moving forward. Carter emphasized that the current price action signals a promising reversal.
This support level marks a crucial point for Ethereum Classic, as it presents a potential base for future gains. If ETC maintains its position above the support zone, the asset could see a rise to much higher price levels.
Analyst Predicts Major Price Targets for Ethereum Classic
Jonathan Carter has set several price targets for Ethereum Classic as it continues to hold support at the falling wedge. According to Carter, the first target is $9, followed by $13, $18, $25, $40, $53, and the ultimate target of $78. These price levels suggest a strong upward trajectory if Ethereum Classic maintains its current support.
However, Carter also pointed out that a stop-loss at $7 should be considered for risk management. This level would help protect against potential downside if the price fails to hold the current support. As Ethereum Classic continues to develop within the falling wedge, the next few weeks will be crucial for confirming these price targets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
