Ethereum Classic breaking out?

24 Feb 2022

ETCUSD has broken upwards from a bearish penant, it’s just lacking volume confirming the breakout, and with the overall bearish sentiment in the overall equities markets it may be hard for people to get bullish. We have bullish divergence on the RSI on 30 min, 1 and 2 hour charts and momentum indicator is turning white getting ready to flip green on these time frames.

There are a few roadblocks though, mainly the pesky EMA ribbon that for 30 min and under charts it is climbing through, but higher time frames are giving resistance. If bullish volume confirms the breakout though I’d expect a measured target to the top of the green arrow, around 226.50/COIN for around an 8% move to the upside (or downside if it comes back inside and breaks the other way.)

This coin is priced at 1/8th it’s all time high it set in 2021 right now, and has tons of new development bringing users to the undervalued chain. Check out all the new dapps and NFTs at EthereumClassic dot org

If you’re not aware ETC is the original Ethereum but upgraded over the years without ever compromising integrity, decentralization, or most importantly the immutability of the ledgar, like the overlords of ETH did. They have tried to kill this coin so many times but it will not go quietly. That’s why I put all my profits from shorting the stock market into buying the dip!