If you are an intra-day trader or shorter time frame than mid-term (around 1-3 months), ETC is not yours to trade. ETC proved itself as the lowest volatility in price against BTC. Which in average give return 25-40% between the top and bottom through 2018.
ETC is a fork of Ethereum which promising about more stability bla-bla in blockchain network. It's glory day was March 2017 and totally ended in November the same year.
Right now if you're looking to hedge your Bitcoin, ETC probably your second option except Bitcoin itself.
For short-term time frame, looking for RSI level to get downward and touching my surface of latest-support-level green box. I really can't count on MACD as it shows a really flat movement right now.
You're missing the fact that current RSI level for price action is bullish divergence with a strong support there.
blockchaindedi
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@fcgtrading, you know it's not a "strong support", yet. it's probably will be a continuation of the bearish trend and if you look at the direction of RSI right now it's going down, as a reflection that the price slowly going down. So, based on that i suspect that RSI level will be go downward under 40.
blockchaindedi
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@fcgtrading, now we learn who is reading the indicator right (:
Victorwu88
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thanks for TA analysis, so, what's your estimated bottom for ETC in terms of USD? $6? @blockchaindedi
blockchaindedi
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@Victorwu88, glad to hear from you mate, you're welcome. against dollar, the estimation is about to consider BTC / USD price also. so i'm not predicting it's price against USD yet on ETC. I'm more about predicting it's price against BTC which you can see my presentation up there.