[ad_1]
Ethereum Classic (ETC) is on track to test the resistance of the trend line against Bitcoin (BTC) in the coming weeks. The daily chart for ETC / BTC shows that Ethereum Classic (ETC) has been trading in a triangle since March 2017. Ethereum Classic (ETC) is one of the few coins to have bled against Bitcoin (BTC) for so long. This downward trend has yet to end, although now there is a strong chance that ETC / BTC will exit the triangle during the next rally. This would be very unlikely to occur during the first attempt. Ethereum Classic (ETC) certainly has enough space to gather towards the resistance of the trend line, but once done, it will not have much room to overcome it. The price must be corrected and consolidated before it can attempt to break the resistance of the trend line.
Currently, the slow stochastic indicator on the daily chart ETC / BTC indicates a minor rally that should see the price approaching the resistance of the trend line. However, it shows that soon, the price will be overbought and will have to be corrected before it can be traced back. This confirms our previous opinion about a bull run in January until mid-February. In February we will see a correction that should see most of the cryptocurrencies impact significantly to prepare for the running of bulls that awaits us. Ethereum Classic (ETC) will be one of those cryptocurrencies. Although ETC / BTC has suffered a lot in the past and lost most of its earnings, this time the situation is completely different.
If you had been trading ETC / USD between 2017 and 2018, it would not make a significant difference. If you had traded Ethereum (ETH), you could have obtained a much larger return on your investment. This shows that Ethereum Classic (ETC) as an investment was not a good result. However, to give it credit where due, we can not deny that it has long been perceived as one of the safest altcoin investments. If someone wanted to invest in altcoins but protected from significant falls, Ethereum Classic (ETC) was the transition to cryptocurrency. Ethereum Classic (ETC) showed this behavior by maintaining its foundation when the rest of the market would fall. This is true of most of the bear market.
The situation has changed recently, as the fundamentals of Ethereum Classic (ETC) have improved a lot more and cryptocurrency has not only become one of the safest alternative investment investments, but has also become one of the most profitable investments. Recent developments with ETC Labs have shown that the blockchain is destined for a brighter future where we will see more Dapps implemented on the ETC blockchain that will pave the way for mainstream adoption. It should be noted that most investors in the Ethereum Classic (ETC) are currently people who really understand and believe in the project. This cryptocurrency has yet to see the interest of traditional investors. However, once that happens, we could see the market difference between Ethereum (ETH) and Ethereum Classic (ETC) bridge much faster.
Source link
