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Ethereum Classic (ETC) has increased by more than 5% in the last 24 hours while the rest of the cryptographic market is bleeding. This makes Ethereum Classic (ETC) the only twenty highest cryptocurrency in the green. Ethereum Classic (ETC) is known to maintain its position during difficult times, which is perhaps why cryptocurrency is growing while the rest of the market is falling. This behavior has been observed in the past and it is likely that most investors now realize that Ethereum Classic (ETC) is already too undervalued to fall further. However, this time, the reasons for this behavior seem to be more than stability during bad times. Ethereum Classic (ETC) is on the verge of a turnaround as the weekly chart for ETC / USD shows. With everything that has happened with Ethereum Classic (ETC), from the listing of Coinbase to the ETC Summit and the IOT Compatibility, many investors will want to accumulate before the next rally.
The indicator of confirmation of the price of the volume above the graph shows that the price should continue to rise in the coming weeks. If you complete the bullish gartley model or not before another wave is still clear. The MACD analysis for ETC / USD shows that the price already had an extended correction and should reverse at this point. However, it is still probable that the price will continue to correct until October, if the general conditions of the market remain as such. At the moment there is a lot of uncertainty in the market, but most investors realize that the correction cycle is almost complete. It is not yet known whether this month or the next one will complete, but for those looking to invest before the next cycle begins, this is a good starting point to start accumulating.
[19659003] The correction also seems to have run against Bitcoin (BTC). The weekly chart above for ETC / BTC shows that Ethereum Classic (ETC) has held its trend line against Bitcoin (BTC) which extends until 2016. This is the first time in nearly three years that Ethereum Classic (ETC) has on the edge of a big breakout. The Squeeze Momentum indicator on the chart above shows that the downside impulse is lost and the bulls are ready to take control as soon as the next cycle begins.
With cryptocurrencies in general and projects that foresee a big breakout after years of lateral movement in In particular, it is difficult to find time on the market. Sometimes, the breakout takes five weeks for a coin to reach a new all-time high. Investors who are waiting for a perfect fund are likely to lose that break. We have seen this in the case of Litecoin (LTC) when it was added to Coinbase. There were no significant changes in price during the first few weeks and most people gave up. However, shortly thereafter, the Coinbase effect began and we all know how the price of Litecoin (LTC) has skyrocketed over $ 300. This was a coin that had no other use cases besides being a & Alternative to Bitcoin (BTC) for online payments. Ethereum Classic (ETC) is a completely different project with its distinct use cases. The sentiment is currently against Ethereum Classic (ETC) for the most part, but then again if you've been around for a long time you'd know how Ripple (XRP) has gone from being a "centralized bank currency" to the "favorite currency" " of all. The fundamentals require time to change, the feeling does not.
