On my last post on ETC/USD ( february 13 ) i said :
-Price breaks down, before retesting, and coming back to the upside. If this set up plays out, I am expecting the up move to the upside horizontal target zone.
As we can see the price continue to flying !
Ethereum Classic price is rising thanks to solid gains in the ETC/BTC ratio. With Ethereum Classic rising by 12.11% in favor of Bitcoin , it is evident there is a lot more progress to be made in the future. After all, most altcoins are trying to decouple from Bitcoin’s as of right now, yet very few of them are successful in doing so.
This trade could play out in 2 ways,
-Price continues it's strong momentum to the upside, and hits the upside target at $41.55 in one strong swing move. Bare in mind if this does happen it is extremely likely that price will once again be going back into higher levels, and would show a significant change of investors sentiment in Cryptocurrency as a whole, and prices returning to their higher levels would be likely.
-Price retests the horizontal at around $34.94 before the new move comes in. A retest of structure would make this trade feel more assured and safe entering this trade.
With $692m in 24-hour trading , things are not looking all that bad for Ethereum Classic right now. The vast majority of top altcoins still struggle to get past $250m in 24-hour trading , and it is evident that trend will not change anytime soon
Dont forget to follow if you want to be noticed ;)