Ethereum Classic (ETC) has been a complete disappointment for a lot of investors in the past. The price failed to rally at the same pace as the rest of the market and thus investors who were betting big on Ethereum Classic (ETC) did not profit as much as those that bought Ripple (XRP) or EOS(EOS). However, Ethereum Classic (ETC) is known for making its own moves at times which has served the cryptocurrency a lot well and investors who had been hodling Ethereum Classic (ETC) since the beginning of this correction would have lost the least compared to those holding other coins including Ethereum (ETH) and Ripple (XRP).
Ethereum Classic (ETC) has been the quick buck artist’s nightmare. The weekly chart above for ETC/USD shows exactly why. The price of Ethereum Classic (ETC) entered a diamond formation since 2017 that extended all the way to the end of 2018. Many investors and market analysts expected that Ethereum Classic (ETC) might make one of its independent moves and respect this diamond formation in order to break above it later. However, we soon saw it succumb to the deadly force of Bitcoin (BTC) and the price broke the diamond formation which immediately triggered a retest of the previously tested $10 support. It also destroyed hopes of an immediate breakout for short term investors. So, Ethereum Classic (ETC) is not really one of the favorite coins in the crypto community right now. However, we have reasons to believe that is going to change in the months to come.
Thank you for this alternative long term view. On the shorter term, we believe that 9.000 has to be tested as a Lower Low first before any upside attempt (possibly to 12.000):
vops
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Your every post is big SHIT just like ETC is...
Jefe
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@vops, Then don't you have anything better to do than to waste your time talking about "SHIT". Just ignore it or dislike or whatever and move on.
vops
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@fakhan, But its very funny reading your comments, like comics... ;)
Jefe
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@vops, Then how is it "SHIT". I fucking love comics, man. You should be thankful for getting it for free. ;)
ETC will be the biggest loser since need to drop another 85% from current prices, ETC cannot start another uptrend without this drop , all this useless pumps just trap more inexperienced longs.. on this coin there are more longs trapped than any other coin. It prints 24h volume 1/4 from m.cap daily, basically nobody buy this coin.. only same players trap muppets to grab their money. Once this coin start to liquidate this longs it will be like a tsunami, every 1-4% increase will come with another 6-14% dump.
Victorwu88
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so, based on your analysis, what's the probable bottom for ETC by the end of this month? @fakhan thanks in advance