ETC/USD update
Etherium Classic is also lagging behind in catching up its bid and currently is between its trigger levels of $12.46 and $11.8 for its up or down moves respectively. A daily close above $12.5 will imply continuation upwards where ETC will be met by the very strong resistance of 40 days WMA (white dotted currently @ $13.22) as well as downsloping 89 days WMA (brown currently @ $13.73).
Once this zone of resistance is cleared ETC has one of the best rates of return in the CC space with targets of minimum $16.87.
The alternative scenario of closing below $11.7 on the daily basis and subsequent continuation downwards is possible but seems to be unlikely on the back of generally positive bias in the CC space.
https://www.mql5.com/en/charts/7726341/etcusd-d1-simplefx-ltd
Thank you for TA comrad. a lot of rummors going that Russian miners will switch to ETC from ETH due to fork. What can you tell about that? im talking about thoughts and not a ta future prediction// thank you comrad.
I was a comrade very long ago. Since 1993 I'm in London and know about Russian rumours probably less than you do. But anyway whatever the reason my unlikely second scenario is developing and we are heading to see ETC in the $9 vicinity.