Ethereum Classic found the bottom at btc 0.002, that has been reached on the 24th of July. Price then went up and today broke above the descending channel, which could be the first signal of an upcoming corrective wave up.
ETC/BTC might increase towards the strong resistance near btc 0.00245 area, which is 61.8% Fibonacci retracement level. At the same time this is the level of the ascending channel breakout and where previous support has been established.
On a downside, the consolidation is possible and even spike below the recent low. But only daily break and close could invalidate the correction upwards, while the downtrend is likely to continue at that stage.
We got this to explain on ETC, with detailed sell targets
kryptikjim
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None of this matters; nothing is going to happen until Coinbase listing is complete. It is going to bounce back and forth and waffle just like everything else. If you ask me it is complete and total BS; ETC is a great coin with or without the Coinbase listing; but now we have the money chasers who want to get involved and will drive the price in pursuit of a buck or two. We will see ETC run to a 100 and drop back to 25 all in a matter of 24 hours.
RobJay
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@kryptikjim, When's that gonna start? - I'm a monet chaser.
kryptikjim
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@RobJay, no one knows, that is why the charts are not accurate. It will be right once.