ETC/USD is Following Bearish Path
Ethereum Classic Price Resistance
There were decent gains in the ETC award above $ 30.00 against the US dollar. The price was traded as high as $ 33.41, from which a downside wave was initiated. It moved below 23.6% Fib retracement level of the last wave from $ 26.00 low to $ 33.41 high. The drawback is moved out under the support area for $ 31.00, which ignites additional shoppers.
During the downside movement, there was a break below an important bullish line of draw with $ 30.30 on the timetable for the ETC / USD pair. The pair currently tests the support of $ 29.60 and the 100-hour simple moving average. In addition, the 50% Fib retracement level of the last wave works from $ 26.00 low to $ 33.41 high also as a support. However, the couple is now under $ 30.80, and $ 30.20 supports, which means there is a risk of multiple falls.
On the backside there is a connecting bearish trend line that produces resistance of $ 30.20. A break over the trend line and $ 30.50 is required to avoid further drops. Over $ 30.50, the price could recover $ 33.00 swing high in the short term.
Bond market to a big hit today as did stocks. As a small very small investor I will hold and wait. I hope as people start getting there tax return and they settle down into the new year we could see more small investor into crypto. The help, information out there on how to invest in crypto has improved vastly. 18 months ago I wanted to buy $50-$100 of Bitcoin and gave up. But look at me now , I'm invested in Steem. People like you are changing lives. Thanks from us tadpoles. keep it up
Thank you!
@tradewonk Eth classic made great movement at the past .. we can wait until drop more & buyt at the buttom :)
Agree
It would be nice to see ETC recover back to some of its all time highs!!
Matter of time.
I am pretty sure we are due for a huge correction. I just wish I had more FIAT to buy now.
these movements are making the owners of small profits nervous. I think you will always earn forwards. I think you have to wait patiently.
Yes, patient is key.
Cool and intresting post @tradewonk ! I really like technical analysis! You just recieved a new follower!
Thanks buddy!
I will continue to hold the little i got. Who knows how it will turn out to be. Thanks for the information though.
My pleasure
@tradewonk there is a panic in the market eth classic is a great currency , it's will go up again :)
Yes sure it will
ETC, ETH and NEO. HODL them and be happy!
I dont even get why people care about TA. The tech is what's important. Wait a year, wait for plasma. We're going to see 10x+. Ride the waves and enjoy them. Get outside. Forget about the charts and the microgains
I recently bought ETC at 40$. Didn't had any before and heard of it the first time they announced the airdrop for march. For me it will be a longer hodl. Thanks for keeping the investors updated though.