FA: Ethereum Classic is a decentralized Proof Of Work coin and you can earn mining, but it will be a hybrid POW/POS (Proof Of Stake) system after ETH 2.0!
TA: ETC is on historic support, it should react with a bounce after that break-out confirmation of the wedge and go for mid-line channel at least.
Current Price= 0.0006671 Buy Entry= 0.0006606 - 0.0006263 Take Profit= 0.0007472 | 0.0008094 | 0.0009152 Stop Loss= 0.0005398
Falling wedge broke-out at last, keep holding for targets!
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Price got rejected on mid-line channel without hitting first target then started dipping, that was close. Those holding that call may wonder what to do after the hack news, but I believe it won't affect it much more.
Right now a smaller descending channel is forming and RSI is quite low, to me a pump is coming. Don't forget to use Stop Loss in case I'm wrong!
Trade closed: stop reached
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SL hit with -16% loss
Ethereum Classic has suffered from many 51% attacks in recent times. Better to avoid it in the future until ETC Labs make proper regulation to protect it!
After the dump it has done a crazy move up then dropped again, seems over manipulated to me :/
AFAIK this project has no plans to go hybrid nor POS in the near future, that's why this coin is a good investment with more return potential than it's forked alter ego. ''Code is law''
TradingOn
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@w1g0, well those are still rumors, but it's a possibility. Anyway keeping it POW could be better for the future of this coin as you mentioned. Thanks for your comment!