#1445
CheesePuff
CheesePuff
Moderator

A long term look into the Etherium Classic market, seeing as Bitcoin has painted a nice bear flag onto the crypto space.

 

ETC 22 Jan 2018

We can clearly see resistance above the 0.38 fib, and we can see support kicking in at o.61 and 0.5 fib. Immediate support we can see at 28 dollars which also happens to be where the current trend line and 0.5 fib meet.

The PPO indicator is showing us that the momentum is turning down again, and should it go into the negative, prices could fall to the 0.61 fib, or even lower, where I expect enough open interest for buyers to consider stocking up on some ETC again.

We have seen the alt coins lose value against Bitcoin and alongside Bitcoin, and so we will wait for this to change before attempting to get gains on ETC versus BTC.

Feel free to discuss this trade with us on Discord.