Before we start looking at this chart, let me tell you that I personally do not believe in USD charts when it comes to cryptocurrency that much and would always choose to look at price in satoshi.
From this chart however I was able to spot some very common sense trends in terms of downward trends and breaks afterwards. Downward trend usually ends when it is suddenly broken in an upward price spike which happens in less then 12 hours. In this case as you may see we are having a much greater downward trend which by logic should indicate a much greater spike possibility.
We are holding this trade and if needed will switch it into long term. Now to all those who speculate a similar fall as we have seen occur with Zclassic, I must say that these are two different apples. Zclassic had a hard fork with bitcoin which resulted in a new coin called Bitcoin Private. In Ethereum Classic's case, this is not a hard fork, just an airdrop of a token that has been bombarded by many, including some exchanges. It has more than 6 Billion tokens. That's a lot of tokens to be given out only at 1:1 ratio. In all, I do not believe that this airdrop will have any effect on Ethereum Classic for one simple reason... Ethereum Classic team has nothing to do with it.
With that said, my team and I do believe that Ethereum Classic holds some great potential in terms of price and technology. It's severely undervalued and should be at least 25% of Ethereum price.
In addition, I would recommend everyone to look at Ethereum before it had it's run up. It was following same or similar trajectory path as Ethereum Classic is, so if you're in, I would stay in. If you're out, well then.
Do not invest what you can't afford to lose. We are not your financial advisors.
From this chart however I was able to spot some very common sense trends in terms of downward trends and breaks afterwards. Downward trend usually ends when it is suddenly broken in an upward price spike which happens in less then 12 hours. In this case as you may see we are having a much greater downward trend which by logic should indicate a much greater spike possibility.
We are holding this trade and if needed will switch it into long term. Now to all those who speculate a similar fall as we have seen occur with Zclassic, I must say that these are two different apples. Zclassic had a hard fork with bitcoin which resulted in a new coin called Bitcoin Private. In Ethereum Classic's case, this is not a hard fork, just an airdrop of a token that has been bombarded by many, including some exchanges. It has more than 6 Billion tokens. That's a lot of tokens to be given out only at 1:1 ratio. In all, I do not believe that this airdrop will have any effect on Ethereum Classic for one simple reason... Ethereum Classic team has nothing to do with it.
With that said, my team and I do believe that Ethereum Classic holds some great potential in terms of price and technology. It's severely undervalued and should be at least 25% of Ethereum price.
In addition, I would recommend everyone to look at Ethereum before it had it's run up. It was following same or similar trajectory path as Ethereum Classic is, so if you're in, I would stay in. If you're out, well then.
Do not invest what you can't afford to lose. We are not your financial advisors.
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First break needed on $30 mark
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Just look at that undersold RSI on 4H 1D chart!!!!
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MACD NEEDS A CROSSOVER ON 4H CHART
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This coin is really on all investors' nerves right now
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Ethereum Classic has been upgraded to B rate on Weiss
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JUST AN ETC THOUGHT
