EthereumClassic VS Bitcoin Way Up
During November - December 2017, Ethereum Classic has formed a double bottom near 130k satoshis area. Since then price formed a strong resistance near 340k satoshis, which has been rejected at least 3 times and then corrected down.
The most recent price action shows that ETC/BTC has found the strong support at 78.6% Fibonacci retracement level, that is 190k satoshis area. At the same time ETC rejected the 8/1 Gann Fan trendline suggesting the continuation of an uptrend.
On the 12th of June Ethereum Classic broke above the descending channel under a heavy buying volume and it seems that this tendency might continue. The upside target is likely to be the 330k satoshis area, that is confirmed by the previous resistance as well as 23.6% Fibs.
The most recent price action shows that ETC/BTC has found the strong support at 78.6% Fibonacci retracement level, that is 190k satoshis area. At the same time ETC rejected the 8/1 Gann Fan trendline suggesting the continuation of an uptrend.
On the 12th of June Ethereum Classic broke above the descending channel under a heavy buying volume and it seems that this tendency might continue. The upside target is likely to be the 330k satoshis area, that is confirmed by the previous resistance as well as 23.6% Fibs.
Commentaire:
ETC goin up as expected