The technical data of Ethereum Classic (ETC) indicate a big move before full IOT compatibility this month


Classic Ethereum chart with values

It is expected that Ethereum Classic (ETC) will become fully IOT (Internet of Things) compatible by November 30, 2018. This is undoubtedly a great development for the sleeping giant. However, we have previously seen events such as the listing of Coinbase and the ETC summit has no impact on the price of Ethereum Classic (ETC). As far as we know, this time it may not be different and the price may not be appreciated in the short term. However, all these combined developments will certainly have a strong long-term impact. Most cryptocurrency projects do not think beyond cryptocurrencies or blockchain technology. There's a reason for this. Blockchain is a hot topic and they want to capitalize on this, but what happens when blockchain is no longer so hot?

This is what differentiates Ethereum Classic (ETC) from most other projects. While most of the projects out there are competing to create new chains and portfolios, Ethereum Classic (ETC) is working on the use of those chains and portfolios for IOTs (Internet of Things). Of course many other projects do not focus on IOT because they are not made for IOT. For example, Ethereum (ETH) is a big blockchain but its centralized governance and its changing nature make it a nightmare for IOT. The same applies to EOS (EOS). As for the IOTA (MIOTA), has a strong chance to become a serious competitor in the IOT space but has technological limitations as IOTA (MIOTA) is not built on a blockchain. Some MIT critics have recently highlighted some flaws in the IOTA tangle.

Classic Ethereum chart with values

Ethereum Classic (ETC) on the other hand is tried and tested and is in a better position to become the leader in IOT. We are still far from Ethereum Classic (ETC) to become fully compatible with IOT, but the technical data are already showing signs of an important breakout. The first chart for ETCUSDLongs shows a strong flag of a bull that is forming. This shows that the bulls are ready to push the price higher, but that's not all. The weekly chart for ETCUSDShorts shows that bearish resolution is seriously damaged now that the number of short circuits has dropped below the historical trend line. A sharp drop in the number of short circuits could result in a sharp rise in the price of ETC / USD. Both ETCUSDLongs and ETCUSDShorts aim for a conclusion and this is a bullish turnaround in the coming weeks.

Classic Ethereum chart with values

To put everything in perspective, let's examine what ETC / USD has gone through. The price has dropped from its all-time high of $ 44.34 to a minimum of $ 8.86. During the correction, Ethereum Classic (ETC) saw many favorable developments, but none had any impact on its price. The price has now completed a bullish gartley model that covers a two-year period. The price has completed a correction in the same way as it completed a rally between 2017 and 2018. Ethereum Classic (ETC) is one of the few coins that have seen the game change developments during the correction. It is likely that all these developments will eventually be reflected in its prices as the market recovers.

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