My previous post on Ethereum Classic (ETCUSD) can be found here:
It was mentioned in the previous post that Ethereum Classic’s (ETCUSD) target area for the termination of a zigzag Elliott structure was between ~$14.51 and $13.67. Price action did terminate at ~$14.27 on May 28, 2018 within the mentioned target area which thus suggests a completion of the pattern.
As a result, the next possible move for Ethereum Classic (ETCUSD) would be to the upside with further downside limited. Possible point of entry (POE) into trade is placed here at $16.54 which is just above the high made by Ethereum Classic (ETCUSD) on June3, 2018. This ensures that picking a price bottom is avoided.
Point of invalidation for the current analysis is placed at ~$13.30 at which point Ethereum Classic would have closed below the current target area.