ETC: New Founded Confidence
Ethereum Classic has truly been the lost sweetheart of the market for a long period of time. You can state that this has even stemmed from when DAO or Decentralised Autonomous Organisation forced the split between Ethereum Core and Ethereum Classic. Ultimately, whilst Ethereum has spiked to heights of $1300, ETC has been unable to surpass $70.
Nonetheless, with the rest of the market gradually increasing their values, Ethereum classic appears to be one of the only ones that have not budged more than 2%, which is surprising considering that they are on Coinbase, able to gradually take those newcomers into the market as well as they are one of the top 3 commits on Github for contribution towards their own project.
What is the technical analysis saying?
- Moving Average about to crossover between the 15 and the 90 Moving average.
- Using the 55 Moving average as a support on the 4H Time frame.
- Currently using the 90 Moving average as a resistance, with a slight breakout above it.
- A close above $10.91 would illustrate a reversal on down fortunes.
- On the 4H Time frame, illustration that a dump has been stopped from current heights as a RSI Stochastic crossed over.
- A lot of sell side pressure
- Not a lot of buy side pressure
- A break above 10.95 to 11.10 would bring back sentiment towards Ethereum Classic.
Nouvive is buying at $10.80 with a stop at $10.75, taking profit at $12. Always increasing stops in profits.
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