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Ethereum Classic (ETC) Faces Rejection At 38.2% Fib Retracement Level



Ethereum Classic (ETC) has had an impressive rally that is said to have risen from the bottom of the bottom to $ 3.2 to as high as $ 5.7 within a time frame of less than three weeks. Considering the yearlong bear market like to an end, this was a pretty good rally. 38.2% Fibonacci retracement level. As Ethereum Classic (ETC) retraces, we are going to see the complete IH & S formation. If this formation comes to fruition, we are likely to see ETC / USD rally past $ 10 in the first few weeks of 2019.

At the moment, RSI for ETC / USD shows that the price is almost in the overbought territory. There is a very small probability of this rally. The most likely scenario will be seen at least for $ 4.1 before any continuation of the rally can follow. If Ethereum Classic (ETC) has been run on this issue, we could have expected the price to continue considering the interest in Ethereum Classic (ETC) is one of the highest it has ever been. After the recent regime change, investors are flocking to Ethereum Classic (ETC) as they believe that this cryptocurrency has what it takes to position itself as a market leader in the IOT (Internet of Things) space.

Chart for ETC / BTC (1W)
The fourth industrial revolution has already begun. Big tech giants are already throwing their weights behind projects in AI, AR, Big Data, Machine Learning and IOT. Perhaps this is the reason Foxconn decided to support Ethereum Classic in the same way as IBM is supporting Stellar. Ethereum Classic (ETC) is a project with a lot of potential. However, the public perception of this project has not been the best one. Tech geeks check Github accounts of projects that are invested in, but the average investor checks Reddit or Twitter accounts for those projects. From my personal experience, I have found Ethereum Classic (ETC) 's twitter and reddit accounts to be lacking to the sorts of professional standards. Until recently, they appeared as individual accounts by thirteen years old.

Ethereum Classic (ETC) 's public image on Twitter is gradually improving. In a conversation with Anthony Lusardi, the Director of ETC Cooperative, I was told that they are starting to work on areas like marketing and public perception. To be fair to Ethereum Classic (ETC), it is a big achievement that they have like this to be considered a lot of people. If Ethereum Classic (ETC) can survive that and the recent ETC Dev shutdown, there is no doubt they are here to stay and as they grow up and mature, with a lot of big companies ETC).


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