Anyone still holding ETC from back when the fork was supposed to create gains that didn't play out, here's some good news. So ETC is a bit of a tough question since the fork happened during a time when BTC -3.44% has been so unstable. But perhaps holding this extra little bit of time is actually a good thing, we might have sold early and missed this upswing that is brewing. This isn't a signal to buy more because we don't know when this breakout will happen (so we wouldn't recommend something that you might be forced to sit on for a while) but this is good news if you are sitting on ETC and thinking about getting your funds back up.
The charts, when looking back from the beginning of Feb 6th to the peak Feb 20th shows us a break through resistance at the 0.618 Fib line but we are now sitting at the 0.786 line as support. The falling wedge when it completes the downtrend will give a probable upswing as indicated by the blue arrow. Expect a little bit more consolidation before this happens as the orange staggered EMAs are continuing to consolidate before they indicate a trend reversal.
ETC 2hr chart: - fell through 0.618 fib - sitting at 0.786 fib support - falling wedge playing out - will result in upswing - staggered EMA's (orange) showing consolidation and possible trend reversal incoming
If all plays out, can we see a possible 27.77% upswing?