Ethereum classic has been quiet for a while, since its drop in march, it has been losing value against btc.
This could soon change.
By looking at the chart, we can notice that there is bullish divergence on the RSI 4h.
2nd thing we can notice is the small falling wedge, which already completed the 5 Elliot correction wave.
We are almost oversold on the daily, sure there could be more room for a fall, but it looks unlikely.
If ETC breaks out, and reaches the red resistance line and breaks it, then a new trend will start, and would complete the big inverse head and shoulders.
All of this is backed by the incoming hard fork in JUNE, which would make ETC interoperable with ETHEREUM.
This idea is for educational purpose only, I am not a financial advisor, and not an expert, just sharing my thoughts :)
Good luck with your trades.
This could soon change.
By looking at the chart, we can notice that there is bullish divergence on the RSI 4h.
2nd thing we can notice is the small falling wedge, which already completed the 5 Elliot correction wave.
We are almost oversold on the daily, sure there could be more room for a fall, but it looks unlikely.
If ETC breaks out, and reaches the red resistance line and breaks it, then a new trend will start, and would complete the big inverse head and shoulders.
All of this is backed by the incoming hard fork in JUNE, which would make ETC interoperable with ETHEREUM.
This idea is for educational purpose only, I am not a financial advisor, and not an expert, just sharing my thoughts :)
Good luck with your trades.